FSCS chief calls for exclusion of unregulated investment products

In his speech at UK Finance's Retail Banking Summit, Neale (pictured) said guiding consumers towards simple, good value financial products would reduce the risk of mis-advising consumers. He proposed financial advisers should be barred from recommending products to mainstream investors outside of a protected boundary. The lifeboat fund chief executive, who will step down from the role in May, said more than 60% of the £3.3bn paid out in compensation costs during his nine-year tenure were a result of mis-selling or bad advice.  The Financial Services Compensation Scheme (FSCS) has p...