BBA has brought a judicial review action to challenge FSA and FOS’s recent stance on PPI. It says FSA is trying to create a precedent to allow it to apply new rules to sales covered by other rules at the time they were made. FSA’s recent policy statement and FOS’s guidance on PPI complaints say firms should consider any complaints not only against the rules that applied at the time but also against FSA’s guiding principles for business. BBA says it has not resolved its concerns through discussion with FSA and FOS so has brought the action, which it hopes will be heard over the next few months. FSA says it will vigorously contest the application. (Source: Payment Protection Insurance (PPI): Why the BBA is bringing a judicial review and FSA/PN/153/2010)