Was the FSA a success or failure?

REGULATION

Nicola Brittain
clock

The FSA has been hammered by Treasury select committees, the press and the advisory community, but did it accomplish anything it set out to achieve? Nicola Brittain finds out…

The Financial Services Authority (FSA) reigned for 15 years and it would be fair to say it has been pilloried by the press, politicians and advisors alike. But how far was it responsible for the failures of which it is accused, and did it succeed in other, less visible, areas? Several advisers argue that the FSA should be considered in two ways - first, in terms of its management of the wider economy, including regulation of the banks, and second, by the way it implemented new regulations for the financial services community. Abject failure? Peter Cooper, director of Cooper Johnston...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA urges principal firms to check PII cover

FCA urges principal firms to check PII cover

Regulator finds 10% of sampled firms may not have adequate cover in place

Isabel Baxter
clock 28 February 2025 • 1 min read
FCA to undertake MPS Consumer Duty review

FCA to undertake MPS Consumer Duty review

Regulator recognises the sector has been ‘growing at pace’

Isabel Baxter
clock 26 February 2025 • 2 min read
FCA ongoing services wish lists: 'Advice shouldn't be like a car tax reminder'

FCA ongoing services wish lists: 'Advice shouldn't be like a car tax reminder'

FCA urged to adopt a 'more principled and realistic approach'

Jen Frost
clock 25 February 2025 • 3 min read