FSA launches initiative to outlaw flawed sales bonuses that encourage mis-selling

5 Sep 2012 03:53 PM

Martin Wheatley, managing director of the Financial Services Authority (FSA) and chief executive officer designate of the Financial Conduct Authority (FCA), yesterday announced that he wanted to see an end to mis-selling created by sales incentives.

At a Thomson Reuters Newsmaker event in London yesterday, Martin Wheatley announced a major piece of work to tackle poorly designed incentive schemes that too often result in customers being sold products they do not need or cannot use, while boosting the earnings of the sales person.

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