In its response to a recent Financial Ombudsman Service and Financial Conduct Authority consultation paper, The Investing and Saving Alliance has warned against blocking domestic and economic abuse victims from redress.
The FOS and FCA laid out reform plans, including questions on a new registration stage and updated dismissal grounds, in its recent consultation paper, CP26/9: Modernising the redress system. Stakeholders had until yesterday (11 May) to respond to a series of 21 questions. In response, TISA head of policy, consumer protection and access, Sophie Legrand-Green urged that, while speed and predictability are important, "shutting out vulnerable consumers when they most need help would fail the very people the system is supposed to protect". Legrand-Green's comment was in reply to a sect...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
