FSA's First Anniversary

As the first anniversary of the Financial Services Regulation passes, many in the industry have taken the chance to assess their regulatory performance.  The results appear less than positive with growing regulatory costs, complex rules and lack of guidance ringing out loud and clear.  Following publication of the results the FSA is said to be consulting on why some firms are incurring increased regulatory costs and others are not. They are also said to be reviewing the Handbook, which contains the regulations in an attempt to simplify the rules for regulated companies. The FSA have been under close scrutiny since their appointment, especially in light of their handling of the Equitable Life scandal. Serach the archive for more on the regulator, the FSA. See previous Equitable Life stories.