You are here: Home - Uncategorized -

FSA ‘failing consumers’

0
Written by:
04/12/2006

The Financial Services Authority (FSA) is failing to protect consumers, according to a report in ‘Which?’ magazine.

Criticisms include charges that the FSA refuses to name and shame firms that put out misleading advertising, leading people to make inappropriate or wrong purchases when it comes to financial products.

“To be honest, the British public is not financially sophisticated and there is a big role for the FSA to play in safeguarding them,” said financial expert Martin Cunningham.

“I am sure the FSA means well, but it has to send a robust message to the industry that any sort of misdemeanour or falling short of acceptable standards will be dealt with as severely as the law permits.”

A spokesperson for the FSA said the organisation is currently undergoing a review of its performance and that it is “committed to achieving a fair deal for consumers within the retail market”.

Cunningham said: “That’s all very well but deeds have to match words and it would be encouraging to see the FSA taking action against persistent offenders.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Beware the fraudsters

Whether shopping on the high street or online in the run up to Christmas, it is essential that you take...

Close