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Parliamentary group castigate Tiner

FSA managing director John Tiner received a grilling from a group of MPs last week at a meeting where he was told Parliament did not approve of the regulator&#39s plans for polarisation.

At a meeting between Tiner and MPs and Lords of the all-party Insurance and Financial Services Group, he was told the proposals in CP 121 show the FSA does not understand the difference in terms of agency law between an IFA and a tied agent.

The parliamentarians said they agree with the measures to introduce gap-filling, but that this move should not destroy the basis of how IFAs operate.

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