Long-stop petition reaches 2,098 signatures

Adviser support group Tenet's petition asking the government for a long-stop for financial advice complaints has reached 2,098 signatures in only ten days.

The petition, which was started on 2 August and is entitled 'Fair liability for financial advice', is asking the department for Business, Innovation and Skills to remove a legislative tool in the Financial Conduct Authority's (FCA) rules which allows the ombudsman to consider claims against advisers for an indefinite period after the advice was given. Tenet aims to secure 10,000 signatures in six months, which would ensure the petition is submitted directly to the government's petitions committee. The committee can then suggest options such as holding its own inquiry, referring it to ...