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FSA promises to restore trust
FINANCIAL Services Authority (FSA) chairman Lord Adair Turner last night vowed to restore consumer trust in financial services.
Turner said the City watchdog’s financial capability programme would inform consumers, while measures to crack down on misconduct would prevent companies from taking advantage of customers.
He heralded the government’s decision to expand a money guidance service piloted in the north but said improving understanding of finance would “take a generation to achieve”.