Sants: Industry has not learnt from mis-selling errors

Speaking at the official launch conference of the Financial Conduct Authority (FCA), Sants said there had been "little or no" significant change in the attitudes of the industry towards its customers since Howard Davies, the FSA's first chairman, bemoaned the failure of firms to learn the lessons of past mis-selling in 2003. He quoted Davies as saying: "The biggest disappointment of my time at the FSA has been the failure of firms, in particular their senior management, to learn the lessons of past mis-selling." Sants, who said he would now be taking an "increasing back-seat role" in ...