FSA warns over complex products
Speaking at a British Bankers Association conference in London last week, he said the FSA could not prevent such activity, but warned that it would use its powers of "rewarding those firms which behave responsibly" and of "making it increasingly costly for those who do not". He said the FSA would place "a new emphasis" on the problem.
"We have, at present, a customer who is, too often, not equipped to understand financial products, and whose judgement is therefore unreliable. And we have a sales
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