13th October 2009

Dual Standards?

Two toiletsAs MPs return to Westminster, the expenses row starts over again.

It is with particular interest that I note MPs are upset about repaying some possibly irregular claims because they say the claims were made according to the rules and approved accordingly. To be forced to repay would be an application of rules retrospectively.

I would not be at all surprised if they win the argument, but, it is interesting that they seem to overlook the fact that in the Financial Services industry this is now normal practice.

Alan Lakey has collated some very useful information to assist the House of Commons Human Rights Committee in understanding what IFA expectations were in regard to the Ombudsman’s application of the DISP rules for pre and post N” business. It is clear that the flow chart of what was expected and what is delivered are not the same thing.

 

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