John Netting shares his opinion on the FSCS 'polluter pays' consultation and urges those with an interest in the outcome to get involved in the process now...
Last November the Financial Conduct Authority (FCA) announced a consultation on capital deduction for redress which in essence proposed the principle of ‘polluter pays' regarding the Financial Services Compensation Scheme (FSCS) compensating investors claiming against poorly-run or fraudulent advisory firms. Well done to the regulator for attempting to tackle this perennial problem that besets well-managed advice businesses, who for far too long have been obliged to stump up increasing FSCS levies owing to the claims of investors badly let down by poor advice practices. But it's a con...
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