Is the financial services industry so bent on destroying itself that it is now paying its own regulator to compete in its own marketplace?
One look at the FSA's comparative mortgage tables and the needs-based filters, makes it blindingly obvious that they are giving tacit mortgage advice which is being funded by the fees paid by the good people of the industry.
No wonder the FSA is proposing to exclude training and competence requirements for non-advised mortgage sales. It has an agenda. See if you can work it out.
The FSA is behaving oppressively. It has already decimated occupational pension schemes, personal pension sales, endowment policies and FSAVCs, not to mention IFAs. Its oppressive and ever-changing rules, regulations and demands arc systematically wiping out swathes of the products and services that have been the cornerstone of the public's long-term financial securityBut now it has stepped into the marketplace with its own stall providing self-righteous goods.
The FSA also has comparative tables for Isas and term insurance.