Institute defends naming
Good Returns understands there has been a lot of concern from advisers about the decision to name the two advisers involved and how that decision impacts on other advisers.
McMorran acknowledges that it was an issue which was brought up at the IFA's Council meeting last week.
However, she says that the decision to name the advisers was not taken lightly and it was the committee's view that the breaches of the institute's code were serious.
She also says the two advisers "showed few overt signs of contrition or regret for the position their advice had placed their clients in and they both tried to avoid responsibility for their actions."
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