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In one of the most recent cases,
27/03/2010analysis by the watchdog in 2008 suggested advisers driven by commission to encourage investors to switch pensions was costing consumers £43m a year.
There is going to be a ban on financial advisers from receiving commission after recommending investment products for firms. The rules announced by the City watchdog today are designed to stamp out mis-selling to consumers.
The Financial Services Authority ban is part of a package of measures that should help to restore consumer confidence in the investment market. This mis-selling scandals, was estimated to have cost investors millions of pounds.