THE FSA has said it is powerless to help policyholders trapped in closed with-profits funds which are underperforming.
IFAs had called for the market value adjustment charges (MVAs), which can be as high as 20pc, to be cancelled on closed with-profits funds. This would allow investors to leave funds which had failed...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till