FSA says 'simplified' advice will be subject to same FOS complaints rules

Among the key points is confirmation that complaints against simplified advice will likely be treated the same way as client complaints for independent and restricted advice, as set out in the regulator's Dispute Resolution Sourcebook. Additionally, it said that, given the target markets that had been described to it by some stakeholders, it would expect products recommended through simplified advice to be easy-to-understand, low cost, low risk and with simple charging structures. In today's paper, the FSA said 'simplified' advice represents a "limited form" of advice, in that it is f...