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Despair over regulation

I read about the City Financial Partners&#39 impending endowment review and shook my head with despair – but not surprise.

They blitzed their way through the industry as the Porchester Group, Merchant Investors and CFPL, misselling endowments and free-standing AVCs as they went.

Now they are working for other companies in the industry.

It is quite staggering in an industry of such heavy regulation that they can continue to practise day after day, setting up with a new company.

The PIA/FSA have a lot to answer to.

L Evans

The Regent Organisation,

London EC4

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