Regulator proposes Ssas ban

On potential solution would be to pass regulatory control to the FCA. 

Embark Group chief executive Phil Smith told FTAdviser he advocated better regulation of Ssas, adding: "The idea that a Ssas can't be regulated I think is nonsense."

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He said his Ssas business was built "on the basis that we expect Ssas to be better regulated".

However he said he did not have "any sense" that the FCA was planning to take over regulation of Ssas "any time soon".