An IFA has written a scathing open letter to Financial Services Authority chief executive Hector Sants, calling for his resignation over the closure of an EEA life settlement fund just days after the regulator said it wants to ban the investments.
EEA suspended dealing in its £600m Life Settlements fund on Wednesday, due to "unprecedented" levels of redemption requests, after the regulator announced on Monday it would seek to ban TLPIs. Chartered financial planner Terence P O'Halloran of London-based O'Halloran & Company, has accused the FSA of acting with 'no regard for the consumer'. See O'Halloran's letter in full below. Dear Mr Sants You have deigned to ignore me for virtually three years and even if you don't agree with my view, one would have hoped that you would take some note of my experience and qualifications be...
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