UK: Public Accounts Committee report on financial services mis-selling

The House of Commons Public Accounts Committee published a report today titled "Financial services: mis-selling: regulation and redress": see here or here (pdf). Whilst noting that the Financial Conduct Authority has taken action to address some of the causes of financial services mis-selling, the report states that substantial mis-selling risks remain. It calls upon the FCA and Treasury to do more to understand whether, and to what extent, mis-selling continues.