Consumer Panel response to Legal and General vs FSA judgement

The Panel is pleased also to see the FSA being encouraged to use its powers more forcefully to obtain the evidence they need to check up on potential mis-selling by financial services firms.

Ann Foster, Chairman of the Consumer Panel said: "The most important finding is that 41,000 L&G Flexible Mortgage Plans were sold between 1997 and 1999. As the Tribunal found that L&G's sales procedures were defective, it is imperative that L&G review those sales to ascertain how many were missold, and compensate consumers accordingly."