FSA managing director Martin Wheatley
Media playback is unsupported on your device
Video

FSA calls for clampdown on sales commissions

The UK's financial watchdog has called for a clampdown on commissions paid for selling insurance, loans and bank accounts.

The move comes in the wake of a series of mis-selling scandals such as payment protection insurance.

FSA managing director Martin Wheatley said that for too long those selling products were "motivated solely by the rewards on offer to them" rather than the interests of the customer.

  • 05 Sep 2012
Go to next video: Trust in Libor 'needs repairing'