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ICS missed point of Towry Law deal

During my short life of 54 years I have probably made in excess of 10,000 errors. I have admitted to all 10,000. I am amazed that Suzanne McCarthy, chief executive of the Investors Compensation Scheme, cannot admit she has made just one mistake in her much shorter life.

She has missed the point completely over the Towry Law debacle. Every broker in the land would have preferred Towry Law to let Advizas go bust. Then the £50m would have been paid out of the ICS, which it is designed for.

Now Suzanne McCarthy stand up and admit you made a mistake and reverse it. Call Towry Law&#39s bluff to let Advizas go bust. There is £75m in the kitty. We only need £50m. Why £20m should be applied to the shareholders of Towry Law is a complete miscarriage of justice. This is setting a very serious precedent. I have had enough of this deal. It is wrong.

Peter Hargreaves,

Hargreaves Lansdown,

Bristol

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