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FSA&#39s Aitken wants debate on Towry

An FSA official has admitted that the role of the ICS in taking on

£30m of Towry&#39 Law&#39s liability must be urgently debated.

Head of relationship management investment firms division Robert Aitken

made his comments under pressure from IFAs during a question and answer

session at M&E Network&#39s annual conference. He said: “We need to look at

the ICS and can&#39t keep hammering the industry. We need to redebate

compensation.”

An ICS spokeswoman says: “While we are accountable to the FSA, we are

operationally independent. The regulator was involved in the discussions.”

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