FSA leaves door open to long-stop reintroduction

In a letter to Conservative MP Mark Garnier, Sheila Nicoll, director of policy within the FSA's Conduct Business Unit, pointed to the regulator's previous review of the absence of a long-stop in 2007. "We did seek evidence into whether the potential detriment to consumers of a long-stop would be outweighed by the potential benefits to firms and consumers arising from reducing firms' uncertainty over liabilities. "We concluded that we should not introduce a long-stop as neither we nor the industry could demonstrate that it would bring additional benefits to both consumers and firms." ...