That toothless old Lion…

I am of course talking about the Financial Services Authority.

Why am I saying this? Well I noticed today on www.thisismoney.co.uk that the FSA have been told that the fine they imposed upon Legal and General for miss selling endowment policies was probably unfair and will probably be reduced.

I have to admit that I am not sure of all the facts here but the news does stick in the craw a little as I was miss sold an endowment policy by Legal and General in 1990 and they have basically held two fingers up to me with my complaint.

Lets get one fact straight here; Legal and General (as with most other Life Assurance service providers) were guilty of miss selling endowment policies, of that there can be no doubt. Unfortunately they o hide behind small print for their defence.

And if you complain and get nowhere, you are supposed to turn to the FSA as a final means of arbitration. The problem here is the fact that the FSA seem powerless to actually do anything about this miss selling fiasco either through a lack of teeth or a lack of will.

So if those who are supposed to help you either can’t or won’t help out, that are you supposed to do?