FSA panned on with-profits

The Treasury Committee has criticised the FSA for failing to adequately protect with-profits life-fu...

The Treasury Committee has criticised the FSA for failing to adequately protect with-profits life-fund investors. It believes inherited estates are not always used solely for the benefit of investors. Committee chairman John McFall said the FSA is caught up in micro-regulating individual cases rather than establishing clear overarching principles.