Tuesday, March 30, 2010

FSCS adds Lehman structured product claims to adviser Keydata levy | News | Money Marketing#comments#comments#comments#comments#comments#comments#comments#comments#comments#comments

FSCS adds Lehman structured product claims to adviser Keydata levy | News | Money Marketing#comments#comments#comments#comments#comments#comments#comments#comments#comments#comments


Mike Fenwick | 30 Mar 2010 8:38 am

In my above post I asked:

Is the Post Office an Intermediary or not?

Are they included in the list to whom the FSCS will issue a levy request?

Let me add to that comment, by asking:

Are Tesco an Intermediary or not?

Are they included in the list to whom the FSCS will issue a levy request?

Are Sainsburys an Intermediary or not?

Are they included in the list to whom the FSCS will issue a levy request?

In considering only:

- some of our biggest "Retailers"

- and those "Distributors" who receive substantial Government funding

- you may detect something worth thinking about over what was called and defined as a "Retail - Distribution" Review

- something I would suggest that should be of considerable interest to the OFT

- if they appraise who are included and who are excluded from the list of those who are asked to pay for "Intermediary" levies when called upon to do so by the FSCS.

- if only the OFT fully understood that they have a singular responsibility to scrutinise the actions of the FSA for anti-competitive measures - and effects.

And yes ... once you start thnking about the issue there are plenty more to add to that list, given the conclusions reached by the FSCS over Keydata.

Perhaps it is time for the OFT to do some thinking?

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