The Financial Services Authority is poised to issue its first “health alerts” on financial products.
The FSA’s enforcement director Margaret Cole said this week she would not wait for anticipated tougher consumer protection powers from the EU to embark on “product intervention”, and a crackdown had already begun.
The regulator had already been vetting products in the pipeline and told firms to “go back and add features to a product to bring about greater comfort on our part”, Ms Cole, pictured, said.
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