TSC vs FSA: Sants apologises for IFA exit comment

Sants told MPs he "always tries to be mild mannered" and did not mean to cause offence with the comment. He said: "It was never my intention to cause advisers offence in the language I used. I always try to be mild mannered." Sants had made the comments at an earlier TSC hearing on financial regulation. However the FSA chief executive stood by his assertion that up to 20% of IFAs leaving the industry would have "no adverse effect" on consumers. However, when quizzed by MPs on how many IFAs leaving the industry it would take to cause harm to consumers, he admitted the FSA did not...