Monday, December 21, 2009

"The Financial Services Authority (FSA) says there will be 'no let-up' in moves to clean up the industry's act following its role in plunging Britain into the worst financial crisis in a generation."


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Until the FSA has an appropriate number of supervisors monitoring banks we will continue to see problems. It was reported that Northern Rock had only six regulators dedicated to the task of supervision, recently I was told that there are as little as SIXTEEN staff allocated to Barclays.

All the while the FSA applies a disproportionate amount of time and money from supposedly limited resources on small firms.

We need regulatory balance, I see none.

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