Zurich: FCA must investigate alternative long-stop ideas

Insurer Zurich welcomed the regulator's pledge to re-open the long-stop debate but suggested it should be looking at more options than just a 15-year liability period.

Zurich principal of government and industry affairs Matt Connell (pictured) said the Financial Conduct Authority's (FCA) pledge in its latest business plan that it would consult on a 'long-stop' for advice liability for all advisers was "encouraging" as it was a "tangible step forward". The FCA said in March it would consult on the re-introduction of a 15-year long-stop on complaints against financial services firms. Its decision came six years after its predecessor ruled it out, saying at the time the potential detriment to consumers of a long stop would outweigh the benefits of havi...