Regulator needs to patch up reputation

Once again, the Financial Services Authority (FSA) has entered after the event, resulting in an unnecessary burden on insurers to obtain information that should have been readily available.

Since February 2005, the FSA has had the opportunity to ensure sufficient information was delivered to it via retail mediation activities returns (RMAR) that were easy to understand and compatible with Companies House requirements - albeit slightly more informative due to the Goodwill issue. Such logic was not