An online petition calling on the government to remove the financial ombudsman's right to consider client claims without any time restriction has ended 3,000 signatures short of target.
The e-petition entitled 'Fair Liability for Financial Advice' closed on Wednesday, attracting 6,808 signatures. Addressed to the Department for Business, Innovation and Skills it would have needed the backing of 10,000 signatures within a year to proceed to the next stage. The petition was started by financial services firm Tenet in August last year and was supported by the Association of Professional Financial Advisers (APFA) and insurer Zurich UK. It asked the government to remove a legislative tool in the Financial Conduct Authority's (FCA) rules, and revert to rules anchored in...
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