`Trust' call over money.

Financial services companies must take more responsibility for the way they treat customers, a consumer watchdog said today.

The Financial Services Consumer Panel called on City regulator the Financial Services Authority to push companies to improve confidence in the industry.

Chairman of the panel Ann Foster said people were being expected to take on the responsibility for making more and more financial decisions about saving, investing and borrowing money.

But she said the industry still did not provide enough simple information to allow consumers to compare products and services and resist pressurised selling and misleading advertising.

The panel said it was also disappointed that the FSA had delayed certain initiatives aimed at improving the information available to consumers, such as introducing standardised Key Facts documents for people taking out investment products.

It said during the coming year it would be pressurising the FSA to look at ways of changing the industry's culture.