The Financial Services Authority (FSA) is too expensive, aloof and bureaucratic and does not protect consumers from regulatory failure.
A tough 2011 looks likely to be followed by another 12 months to forget, but there are some things to look forward to, writes Caitlin Morrison
Lord Turner’s views on the regulation of the market will undermine the future of the broking industry, says Ashwin Mistry
Brokers have been warned that the Financial Services Authority’s (FSA) long-promised new intrusive approach is already here and that it is not “pussyfooting around anymore”.
Lord Turner, chairman of the Financial Services Authority, has called on parliament to give the Financial Conduct Authority (FCA) “the powers and teeth to act early to intervene and prevent customer detriment from occurring”.
Delegates at the inaugural Broker Expo South event have been warned that the new regulator will be a more dangerous and unpredictable animal and that brokers should prepare themselves for more intrusion.
In this month's edition Paul Anscombe, managing director of Seventeen Group joins Insurance Age's Liz McMahon and Emmanuel Kenning to discuss the latest news stories in insurance.
The Institute of Insurance Brokers (IIB) has called for “fundamental regime changes” in regulation.
The new regulatory regime could have a very different complexion to the current watchdog, explains Terence Clark
The British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) have called for regulatory barriers to be lowered and for the current inappropriate style and intensity of regulation to be reformed.
More financial services businesses are being forced to amend or withdraw advertising material following intervention by the Financial Services Authority (FSA) as it clamps down on misleading adverts, Reynolds Porter Chamberlain (RPC) has claimed.
The Financial Services Authority’s (FSA) post-crisis clampdown may be harming the UK’s international competitiveness, according to research among senior financial services executives.
Insurance Age senior reporter Emmanuel Kenning is joined by colleague Liz McMahon and director of Spotlight Communications, Lesley Russell to discuss the top insurance stories.
The current regulator’s chief executive Hector Sants has stated that, over the past eight years, there has been “little or no evidence that any significant change has occurred in the attitude of the financial industry towards its customers”.
Margaret Cole, the Financial Services Authority’s (FSA) director of enforcement and financial crime, has spoken at the regulator’s conference on the forthcoming Financial Conduct Authority’s (FCA) approach to regulation.
The new Financial Conduct Authority (FCA) must deliver a quantum leap in effective regulation, according to Kay Blair, vice chair of the Financial Services Consumer Panel.
The Financial Services Authority (FSA) has declared that its successor body, charged with conduct and markets regulation from the end of 2012, will be tougher, bolder and more engaged with consumers.
The Financial services Authority (FSA) chairman, Lord Turner, has called on Parliament to ensure the legislation necessary for a smooth regulatory transition is in place in time for the FSA to hand over to the new bodies.
The legal sector has roundly criticised the contents of the Financial Services Authority (FSA) and Bank of England’s joint paper describing it as worrying and raising more questions than answers.
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority (FCA) could be between £115m-£175m.
The government has published its financial regulation White Paper and draft Bill. These provide further detail on its proposed reforms to the financial regulatory regime within the UK.
The Financial Services Authority (FSA) has revealed its intention to create a single set of rules for product intervention which could involve making all TCF material statutory.
The Financial Services Authority (FSA) has published its annual report for 2010/11, outlining its performance against the priorities set out in its 2010/11 Business Plan and its statutory objectives.
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach regulation.