mis-selling

The Association of IFAs (AIFA) today slams the FSA for ‘inferring' low capital directly influences a firm's behaviour and leads to a higher risk of mis-selling.

The Intermediary Mortgage Lenders Association (IMLA) has branded a BBC Panorama investigation into mis-selling of sub-prime mortgages ‘unduly sensationalist' and ‘not representative of the market'.

Following the FSA's warnings over Payment Protection Insurance (PPI), almost one in three new mortgage borrowers say they felt pressurised into buying an associated insurance product, according to market research company, Capital Blue.

The Association of Mortgage Intermediaries (AMI) says lenders can be equally responsible for mis-selling sub-prime mortgages in response to a BBC investigation broadcast on Radio 4 last night.

The FSA has issued reassurance it is winning the battle to end mis-selling in the subprime mortgage market ahead of the airing tonight of the findings of a damning BBC investigation.

The FSA has fined mortgage broker, Hadenglen Home Finance Plc, and its chief executive for having inadequate systems and controls when recommending re-mortgages and PPI to customers.

An adviser firm should pay a successful claim made against it out of its own coffers, the FSA today proposes.

The potential risk of mis-selling personal accounts, particularly to women over the age of 45, has been dismissed by the government.

Vantis claims self -invested personal pensions could lead to mis-buying rather than become the next mis-selling scandal predicted by some IFAs.

HM Revenue & Customs has confirmed refunds from pension schemes ordered by the Financial Ombudsman Service, following a case of "bad advice" or "mis-selling", will be classed as unauthorised payments.