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Liability Risk and Insurance

Re-opening of mis-selling cases?

With the risk from falling stock markets that those who have already received compensation for mis-selling of pensions will still face a shortfall, not envisaged at the time compensation was set, the Consumers’ Association has called on the Financial Services Authority (FSA) and the Treasury to re-open such cases for additional compensation. Commenting, the FSA was opposed to such a move but the Treasury, without current plans to re-open the issue, stated ‘we will be keeping an eye on the situation.’

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