Mis-selling has been described by the FSA as a failure to comply with the FSA Rule Book and its broad Principles of Business. The term does not appear in the FSA Handbook but it commonly refers to an advised sale of investment products to consumers which does not meet the Handbook requirements for suitability or ‘know your customer obligations. The emphasis is on the suitability of the recommendation for the individual and not the investment performance of the product. If suitability was established at the time of sale, and the required explanation of risk was given, then the consumer dissatisfaction about investment returns achieved gives no ground for an allegation of mis-selling.