Lawyer: FSA finds small firms an 'irritant'

The FSA last month outlined its plans for the scheme, with up to 795 advisers set to pay out about £110m for mis-selling the products to consumers. Although it is still consulting on the scheme, with no confirmation of which firms will be accepted, Damian McPhun, partner at Beale and Company Solicitors, is anticipating up to six of his IFA clients could be affected. He said: "It's all too easy for them to blame the IFAs for this. The FSA has always, in my view, been happier dealing with the larger organisations and find the smaller ones a bit of an irritant. "They have little sympa...