FSA warned not to stifle innovation


According to the firm's research on data released under a Freedom of Information Act request, the average number of days it takes for the FSA to approve a regulated firm's expansion plans - called a "variation of permission" - is up 130% to 81.5 days in the 12 months to September 30, from 35.5 days during the comparable period last year.

RPC said it believed the delays were caused by a combination of the FSA's recent more intrusive approach and increased staff turnover at the FSA.


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