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FSA to chase mis-sold FSAVCs

The Financial Services Authority is to begin a review of “mis-sold” FSAVCs in a move expected to cost the industry between £95m and £200m.


The regulator estimates the review only applies to around four and eight per cent of the million FSAVCs sold in the UK in cases where investors were eligible to join an employer&#39s AVC scheme.


The FSA has issued a factsheet to the investors concerned, who have until 30 June 2002 to ask firms to re-examine their cases.

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