Full Marks On Quinn. Let's Get Tough On Advisers Now ; My View [Eire Region]
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Summary
With his actions against the Quinn insurance group, our new Financial Regulator, Matthew Elderfield, proved, if proof was necessary, there is to be a new approach to regulating financial institutions. But it is early days yet and the changed attitudes at the top have yet to percolate all the way down the organisation. That's evident from the approach adopted to recent findings of major shortcomings in the way many banks, insurance companies and advisers were selling investment products to older customers last year.
It only published a short press release on its findings and won't name the errant companies, although it says it has raised some issues with individual firms and is awaiting responses.See the full content of this document
Extract
Full Marks On Quinn. Let's Get Tough On Advisers Now ; My View [Eire Region]
Last year, the outgoing Financial Services Ombudsman, Joe Meade, drew attention to the number of complaints he was receiving from older investors claiming to have been badly advised.
It isn't only older...See the full content of this document
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