Consumer panel puts dampener on long-stop prospects

Earlier this week, the Association of Independent Financial Advisers (AIFA) published a report on the issue, with recommendations including the reintroduction of the long-stop and a system of ‘consumer agreed liability'. Kay Blair, vice chair of the FSCP, said it was still studying the details of AIFA's report, noting the "serious challenges" faced by advisers around obtaining professional indemnity insurance. However, she gave a strong indication that, when the new regulator, the Financial Conduct Authority, comes around to looking at the issue, the statutory body will remain resolut...