Excellent News For The Consumer

I was pleased to read the following article http://www.moneymarketing.co.uk/regulation/fos-amends-decision-wording-a... The High Court has made the correct decision to allow victims of FSA regulated entities to pursue higher claims than the Financial Ombudsman Service can award. I have found it puzzling why the FSA does not put pressure on the regulated entity to compensate in full or face the prospect of having their FSA permission to continue to conduct business taken away. Even though it is likely the professional indemnity insurance costs for independent financial advisors will increase, I think this is excellent news for the consumer.

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