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Autif calls for independent enforcement committee


The Association of Unit Trusts and Investment Funds has called for an independent enforcement committee to check the powers of the Financial Services Authority.


Appearing before the Parliamentary committee scrutinising the Financial Services and Markets Bill, Autif representative and Fidelity managing director Marc Sylvain called for an independent body with an independent chairman.


He told the committee that the FSA should not be prosecutor, judge and jury in disciplinary cases and suggested it should only have the role of prosecutor.


He also called for legal costs to be awarded against the FSA if it is found to be in the wrong.

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