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This is a spare 'blog in case my main 'blog at markwadsworth.blogspot.com isn't working
There are phrases and words used by the financial services regulatory bureaucrats which infuriate me.
‘Mis-selling’ for example. This is nonsense as no-one can be forced to buy anything. Buying is voluntary therefore nothing can be ‘mis-sold’. Especially if one of the cornerstones of English law is adhered to – caveat emptor.
The FSA et al have some other dillies:
‘Consumer detriment’ – eh? Product A costs more than Product B which you failed to buy, so you’ve suffered detriment even if no-one was aware that product B existed.
‘Treating Customers Fairly’ – Here ‘fairly’ is used to replace ‘equitably’ – as in fair and just.
‘Retail distribution review’. Distribution of what? Review of what?
‘Retail Mediation Activity Monitoring’ – well, we do that but what it is that we do we don’t know as none of the questions are answerable. I am sure that there are more.
Do you know any? And are they ‘weasel words’ or are they ‘Newspeak’?
Posted by Lola.