The Endowment Diary

The Endowment Diary


The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Thursday, October 07, 2004

What is The Point of The FSA?

A few days ago, as noted on this site, I sent the FSA an email; asking for their reaction to the fact that my life assurance company suggested that I "top up" my underperforming, failing, endowment policy.

They replied today.

Their note contained links to parts of their site, with general information about endowments. However, they noted that they could not give opinions or rule interpretations; indeed they could offer no specific advice on the validity of any complaint that I may have.

May I ask, precisely what is the point of the FSA if it is not there to assist members of the public such as myself; when we are faced with a blatant attempt, by the life assurance companies, to con more money out of us?

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