FSA employee 'swore' at adviser during telephone call

Carmen Reichman
clock

The financial services regulator has apologised to an adviser who claims an employee swore at him during a telephone conversation.

The unnamed operator, who believed the call had ended when he used the alleged expletive, has written to IFA Phil Castle offering him his "sincere apologies". Castle (pictured), managing director at Brighton-based Financial Escape, had contacted the then-Financial Services Authority in October 2012, requesting guidance about its RU64 rule. But the operator struggled to answer Castle's question about whether the rule, which requires an adviser to explain to a customer in writing why the personal pension they are recommending is at least as suitable as a stakeholder pension, applied in ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA enforcement to become 'assertive, proactive and intrusive'

FCA enforcement to become 'assertive, proactive and intrusive'

‘You can expect the regulator to take robust action where needed’

Isabel Baxter
clock 29 February 2024 • 2 min read
FCA: 'Huge opportunity for firms to shape the advice sector'

FCA: 'Huge opportunity for firms to shape the advice sector'

Kate Blatchford-Hick calls on firms to embrace the regulator’s proposals

Sahar Nazir
clock 09 February 2024 • 2 min read
New era for workplace pension governance as TPR overhauls practices

New era for workplace pension governance as TPR overhauls practices

The regulator’s long-awaited general code of practice has been published

Hope Coumbe
clock 11 January 2024 • 1 min read