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More time for complaints

IFAs are claiming the FSA&#39s move to extend the endowment complaint deadline is a reaction to the Consumers&#39 Association&#39s attack last week.

The FSA says consumers will now not be “held out of time” until six months after a second red letter is received, if that is longer than the original three-year period.

Insurance Portfolio Consultancy principal Brian Lentz says: “Just because the Consumers&#39 Association have complained to the Treasury about the FSA&#39s lack of action over endowments, it does not follow that we should be punished by the FSA by redefining the timeframe for end- owment misselling.”

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