FCA: we are all to blame for lack of trust

Though the FCA's predecessor, the Financial Services Authority (FSA), failed as a conduct regulator, equal weighting must be given to firms that designed, manufactured and sold products not always with the needs and interests of their customers in mind, Clive Adamson said. "[Many firms saw] the customer as somebody to maximise profit from," he said. "This has been accentuated by a view, and it has to be said encouraged by the FSA, that disclosure at the point of sale absolves the seller from a real responsibly of ensuring that the product or service represents a good outcome for the cust...