Everyone in the industry has an opinion on the FSA, particularly at the moment with the regulator's push toward a more principles-based system for delivering advice.
And maybe a touch surprisingly, given the usual nature of relationships with authorities, a large chunk of it seems to be positive. I base this not on an industry-wide survey, but on three meetings I have had in the last three days. In each, the FSA, no TCF, was brought up and, even though there were a few grumblings, all concluded somewhere along the lines of: “They’re trying to improve the industry, and (finding this bit difficult to say) that’s a good thing”. Of course it is. But, and how many times will you hear this phrase in your life, the man in the street is getting overlooked. ...
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