FCA, FOS, FSCS branded “not fit for purpose”

Houses of Parliament

MPs raise Early Day Motion in Parliament.

Kirsten Oswald, SNP Member of Parliament for East Renfrewshire, is the primary sponsor in an Early Day Motion (EDM) strongly critical of the Financial Conduct Authority (FCA), Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).

The EDM begins by raising concerns at "the continuing failure of regulation enforcement and restoration in the financial services sector".

In particular the move, backed by 10 further MPs, highlights the FCA's "failure to respond

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ABI campaigning for IPT cut

There has never been a greater need for a cut in Insurance Premium Tax according to the Association of British Insurers as it campaigns for an immediate drop in the rate.

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