A top boss from the UK's financial watchdog has repeated calls to be given more powers to help mortgage prisoners - six months after it originally said it would ask the Government for help.
Thousands of "mortgage prisoners" who are paying high borrowing rates but are unable to switch to better deals should be given more help, the UK's financial regulator has said.
The financial regulator has backed away from a total ban of holding illiquid assets in open-ended funds, despite chaos ensuing in the wake of the Brexit referendum when many funds had to temporarily close.
The Financial Conduct Authority said today that while it planned to review the way funds worked, it did not intend to outright prevent open-ended funds holding assets such as property.
Such changes would not help financial stability or protect the consumer, it said.
Borrowers will have no UK protection if things go wrong, cautions regulator, just days after launch of Selfcert.co.uk in Czech Republic
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