Law firm issues mis-selling warning after FSA guidance
A leading law firm has warned firms to be "extremely careful" in designing sales incentives following the guidance issued by the Financial Services Authority (FSA).
The regulator yesterday published advice in a bid to help firms avoid creating and running incentive schemes that "drive mis-selling".
And CMS Cameron McKenna commented that "two points come across loud and clear" - that schemes drive people to mis-sell and those based on sales volumes are "broadly unacceptable".
Analysing the guidance - which attempted to clarify the wording and provide examples of good and bad practice - CMS regulatory partner Simon Morris said: "This massively limits the
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