Sorry Am I missing something?!

I know it's Friday & maybe I'm having a monent but surely the regulator of product providers has some responsibility to stress test their products to a certain extent??!! What exactly does a regulator do?!! Yet again they can't appreciate this & responsibility gets foisted on the adviser in total!!

Posted by: Julie

Who product tested the FSA then?

You have to laught I suppose, bit if the FSA had been product tested I suspect it would have failed time and tiem again. FSA cost since 2003/4 £3 Billion or so Compensation paid over to conumers over the same time £2 Billion or so. Really cost effective way to protect consumers I would say. Product Test the FSA please!

Posted by: Michael Fallas

Another Toy

Stress testing is another little toy for the FSA to play with. But tell me, how do they devise what situations could occur, and what statistic weight will they give the results? After all they must have stress tested the banks (we were told they did), but it made not one iota of difference to the financial crash. Monte Carlo testing has been going on for years - and we haven't had a financial catastrophe for a few days now. I suppose the stress levels at the FSA are now being tested, so they are desperately thinking up all sorts of bright things to justify their continued existence. Doing their job competently would have been the best justification.

Posted by: Glen McKeown

money for old rope

Not only do they charge us fees, They now want us to take on their workload too, while they sit back and eat £630000 worth of biscuits no doubt.

Posted by: lol