Friday, August 20, 2010



I used to be one of the loudest voices asking for the regulators to be better qualified in financial services advice than those they regulate. Having met senior people at the FSA I don't think qualifications are entirely relevant in a supervisory situation but do worry about how many 'trends' they fail to spot, this might mean that although they know what a file should contain, what systems and controls should be in place and what a dodgy set of accounts looks like they are unable to reach a fully informed opinion based on practical experience of what constitutes suitable advice, which might mean more cases get to the FOS and the FSCS in future, which in turn means the compensation machine grows like Topsy.

This week there are 66 jobs up for grabs on the FSA website, if you think their job is easy and all you need is FPC 1 and 2 then you are welcome to apply!

I was deluded enough to believe (so was Chris) that I could do a good job at AIFA, I didn't even get an interview!

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