FSA accused of letting brokers foot the bill
PI Expert has questioned the motives behind proposals made by the Financial Services Authority (FSA) to change the rules on compensation awards.
The FSA has suggested that the Financial Conduct Authority, the incoming regualtor, may pursue increased powers when making compensatory awards in responding to the joint committee on the draft Financial Services Bill.
Currently the regulator can only award compensation based on the degree to which poor advice or a breach of rules have resulted in a loss.
The FSA has questioned whether the future regulator should be able to award 100% redress to complainants to cover all losses that arise if a
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