Motley Fool: Fine Times Are Here To Stay!

I’m delighted to see that the Financial Service Authority (FSA) is taking its role as financial watchdog and defender of the public seriously.

For decades, laid-back regulation and feeble self-regulating codes of conduct allowed financial firms to ride roughshod over their customers’ rights. Thanks to this lack of regulation, commission-hungry financial salespeople were allowed to run riot, leading to major mis-selling scandals involving, for example, mortgage endowments, personal pensions, free-standing additional voluntary contributions, split-capital investment trusts, high-income precipice bonds, home-income plans, maximum investment plans (ten-year savings plans) — the list goes on and on!…

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