Moves by the FSA to encourage consumers to take responsibility for the financial advice they receive and products they buy was today branded "flawed" and "unhelpful".
FSA proposals which would allow old mis-selling costs to be paid for out of with-profits policyholders funds were branded "a backward step" today, just three days before the end of a consultation on the plans.
The FSA has come under fire over advertising in financial services after a study suggested standards have not improved in the last two years.
The Financial Services Consumer Panel (FSCP) has backed the FSA's bid to appeal against a decision to reduce a fine for a firm questioned over its involvement with overseas ‘boiler rooms'.
The financial services consumer panel (FSCP) has welcomed a call from the Treasury Select Committee (TSC) for evidence as part of its inquiry into the orphan assets held by life companies' with-profits endowment funds.
Consumers do not consider the issue of an adviser's ‘independence' key to their decision to seek financial guidance from them, research suggests.
The model for financial advice proposed in the Retail Distribution Review (RDR) is too complex and lacks consumer focus, the Financial Services Consumer Panel (FSCP) says today.
Commission may never be compatible with treating customers fairly (TCF), the Financial Services Consumer Panel (FSCP) warns.
The Association of IFAs (AIFA) has seconded calls for the financial services industry to pull together to protect 11 million policyholders with £190bn in closed with-profits funds.
A two-tier adviser market leaving less well-off consumers more vulnerable to poor advice is possible if proposals in the Retail Distribution Review are given the green light.