The FSA must close a ‘liquidation loophole' which many advisers use to shuffle the cost of complaints onto the industry-at-large via the FSCS, according to a claims management firm.
Paul Nedas, chief executive of Financial Advice Liability, says he knows of a number of firms which have entered voluntary administration rather than pay large excesses on their professional indemnity...
‘Massive risk-off rush’
Slendebroek CEO since 2014
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According to Cicero report