IFAs with 500 complaints must go public

Under the plans, firms will be required to make available details including the number of complaints received, how quickly they were resolved and the main products and services covered every six months. However, the FSA says the rules would only apply to those firms that receive 500 or more complaints in any six month period, thereby ruling out the large majority of adviser firms and nearly all small businesses. As well as making information public every six months themselves, the FSA says it too will publish results from the whole sector twice a year. The rules are detailed in its...