29th May 2009

Human rights chief asks Myners why IFAs don't have long stop

LaptopThis is such a contentious issue, particularly for retired as well as active small IFA firms who are not incorporated. They are suffering great financial hardship because they are unable in many cases to defend themselves against often dubious, opportunist claims going back 20 years or more where little and often no evidence is available to either defend or support such claims.

Political influence and sadly court intervention are the only ways to deal with this unfairness. Given that regulation is based upon principles - TCF, fair and reasonable etc, it seems a contradiction that these principles apply one way only.

At Panacea.com, with the encouragement and support from our members, we are speaking to others with political influence - click here to read an article that shows a groundswell of opinion and lobbying can really focus attention.

Our next meeting is with Vince Cable, the Shadow Chancellor for the LibDems, in early June and we will report back on that meeting in the coming weeks. In the meantime, keep your views and support coming and of course, keep up the pressure too Alan.

Click here to see the MM report.

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