21st June 2013

Adviser letter of the week

Dear Mrs May

I have decided to write to you again regarding this matter because I remain dissatisfied with the response from Mr Osborne on this matter.

Ultimately, responsibility for the Financial Services Authority, and now the Financial Services Authority, rests with the Treasury and thus with Mr Osborne.

It is therefore not that cannot do anything but that he will not.

The only logical conclusion I can reach is that although Mr Cameron promised to curtail the "compensation culture", he and his government are content not simply for it to continue but to actually allow claims manage companies to invent complaints and to make false allegations with impunity, using a State sponsored body to facilitate it by ignoring legislation specifically designed to prevent stale claims.

Your party may no longer be the Nasty Party, but I am afraid that if it was still the party of Law and Order it would move to prevent this happening.

The maximum award that an Ombudsman can make is £150,000 a time and an adviser can be hounded to his or her grave, unlike anybody else. 

I fear that, sooner or later,  one of them will decide that is the only route of escape open to them. I am copying both Mr Cameron and Mr Osborne in to this e-mail so that, when that sad day arrives, it can be shown that they were both warned.

I am also sending a copy to Mr Derek Bradley at Panacea Adviser because I want somebody else to know that they have been

I regret having to take such an approach but I make no apology because I believe this will prove to be quite literally a matter of life and death.

Peter Turner

PJT Enterprises Limited

Adviser Letter of the Week