They won't miss the FSA Gavyn Davies Comment is free The Guardian#end-of-comments
A long gone senior FSA manager told me the FSA was a cobbled together mishmash of the old regulators, the 740 BofE staff ruling the rosst on the top floor with the PIA in the middle and the Friendly Societies in the sub-vault with none of them communicating with each other.
Can anyone explain to me what will change? What has regulation 30's style done for Great Britain? It got rid of the Great in Britain.
Unless the regulators are completely independent of political influence we will face another upheaval within ten years. The financial services industry is tired of being a political football, mind you I would like to see some banker heads being used as the proverbial bags of wind they most definitely are.