FSA betrays financial services customers, says Which?

24 July 2009

As the Financial Services Authority today decides that mis-selling costs can still be charged to inherited estates, Which? chief executive, Peter Vicary-Smith, says: "This is an unbelievable betrayal of consumers who are taking hits from all sides. It appears the FSA is allowing the financial services industry to dictate policy once again.

"In the current environment it seems ludicrous that firms can raid with-profit funds to pay for their own regulatory failings. The FSA must stand up to this industry."