IFA complaint over FSA approval delays rejected

The adviser, who worked for network 'A' until November 2009, attempted to apply for re-authorisation with firm 'B' but complained the process took so long it led to the loss of his client bank, and deprived him of his right to work. He also complained the FSA put him in a position where he was unable to challenge the regulator's eventual decision to reject his application. However Complaints Commissioner Sir Anthony Holland said the delay was necessary because the FSA was conducting enforcement action against network 'A' and needed to find out whether the adviser, and many of his coll...