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Johnson hits back at Tory tactics

Treasury economic secretary Melanie Johnson has responded to efforts by

the Conservatives to warn IFAs about the harm the FSA could cause.

As reported exclusively in Money Marketing two weeks ago, the Tories have

sent a letter to every constituency office, urging them to warn local IFAs

about the dangers in the Financial Services and Markets Bill.

Johnson has written a letter to Money Marketing complaining about

“scaremongering” by Tory MPs Andrew Tyrie and Howard Flight.

Her letter claims the bill, which underpins the FSA, goes a long way to

providing the structure necessary to reinstil consumer confidence in

financial services. Johnson concludes: “The bill is a major step forward

for the industry. It is too important to be treated as a political

football.”

l Johnson letter, p9;

Comment, p29

Inside every edition of Money Marketing this week is a 52-page supplement

honouring the victors of the Money Marketing Financial Services Awards,

based on an independent survey of 1,000 IFAs and 350 broker consultants

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