Regulation for the sake of it.
The Financial Services Authority's muddled proposals fail to see the bigger industry picture or learn from the mistakes of the retail financial services market.
The new regime at the Financial Services Authority faces some toughdecisions during the next few months and will find critics queuing up to
make life difficult.
A key focus now is cost - the area where the FSA is most vulnerable to
criticism.
The latest round of consultation (CP 187) has addressed some of the most
pressing issues, such as the ill-thought out proposals for putting small
commercial customers under the same regime as personal lines
policyholders.
However, it has done nothing to suggest
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