APFA seeks adviser views to lobby FCA on new long-stop proposals

The Association of Professional Financial Advisers (APFA) in association with insurer Zurich has put forward the proposals and is polling advisers for their views. Three new proposals are on the table; limiting adviser liablility for past advice based on the nature of the product sold; creating a centrally and funded professional indemnity insurance policy; and by restricting liability to 15 years after ongoing advice has finished. It will also continue to push for the introduction of its original idea of a fifteen year long-stop, stopping complaints from being brought 15 years after ...