Thursday, September 30, 2010

FSA calls for firms to appoint complaints manager | News | Money Marketing

FSA calls for firms to appoint complaints manager | News | Money Marketing

This is something which is lacking, particularly at the banks and direct sales outfits, but compliance, complaints - how many hats can a sole trader wear? I know, the Guinness records people count the number of underpants an individual can slip on in a certain time frame so why not have a record for the number of hats an IFA can wear in his working like while standing on one leg, with a brush you know where?

No, seriously folks, there is an imbalance in the claims industry where the FOS and other opponents can run rings round some IFAs, particularly the retired one who have no idea what this is all about. How about an independent arbitration scheme which is not binding and compulsory (which would make it compliant with Article 6) yet does carry some weight because it would be run in accordance with the law of the land.

Dream on.

Society is in dire need of regulatory balance, I see less each day.

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