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What about IFAs&#39 human rights?

I write to express my gratitude to Towry Law, knowing that they have saved

IFAs so much money by reducing our potential liability to the ICS.

Nevertheless, it begs the question, given the unlimited liability we are

under – are these present arrangements an infringement of our [IFAs] human

rights”, for the following reasons.

First, as a separate collection of people, we are not an insurance company

but we are expected to act like one.

Second, we are not names at Lloyd&#39s but it would appear we have an

unlimited liability.

Third, we have taxation without representation, by which I mean we have

all the liability but no choice regarding ICS pronouncements and decisions.

Would you not agree that these reasons alone are an infringement of mine

and other fellow IFAs&#39 human rights?

It is about time that the regulator regulated the financial probity of

companies more effectively, especially large ones? In this way, if a

company was found to be in “default”, the aggrieved parties could take

action through the courts in the normal way.

Personally, I am sick and tired of paying for the mistakes of others

through the ICS.Can its actual existence not be challenged in court?

David Barnett


DPB Independent Financial Services,



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