FSA chief executive Hector Sants says the regulator will look again at introducing a 15 year long-stop if the Treasury select committee recommends it should.
Giving evidence to the Treasury select committee on the RDR this afternoon, FSA chief executive Hector Sants said the last review of the long stop was in 2007 and it could be time to revisit it.
He said: “I have to say I have some sympathy with the argument that says if people are still concerned and if this committee recommends us to look at it again that is something we could do. Other industries have a long-stop so why not this one?”
“Small firms do feel concerned and aggrieved about it in some cases. It was looked at in 2007 and there was not compelling evidence presented for bringing in a long-stop.”