FSA two-year restructure to cost £12.3m

Meltdown

If the regulator FSA or CPMA dissapeared off the face of the earth, what would happen? Nothing will change in terms of the effect they have for the consumer except A more postive environment to work within the financial industry as FSA always shout out who the baddies are when in fact they are the baddies. Consumer confidence is likely to come back. We would have less wasted money and bearocracy that hasn't worked to date within the F-Pack A free market to work within without regulatory manipulation/intereference Cheaper to run businesses which inevitably gets passed onto the consumers. Better deals for the public. Less financial catastrophes which are caused by regulations and strangulation by allowing larger institutions to by pass various rules e.g. less stupid rediculous rules = not having to circumvent them. Something small firms can't do. New innovative products would come back to the market something the FSA have killed off. A much more peaceful time by all and we would all be better off!

Posted by: Incompetent Regulators Awards Team

money money money

No doubt that estimate will keep on rising until there is no similarity with the first figure. more money down the drain. What the heck, it does not come out of hectors pocket. When will we receive a "special levy" for this lot?

Posted by: lol

FSA. £12.3 million.

Who,s going to pay for this. Us mugs of course. Someone will I hope wake up and smell the coffee one day. FSA cut fees/commission of the IFA but increase costs. What a laod of idiots.

Posted by: terry

Thank you Hector

Bend over, grab your ankles and think of England, because you're about to be shafted yet again........

Posted by: Ballbag

A two year rupture did you say?

Well now there’s a surprise. The FSA can spend money faster than a Bimbo with a credit card. Even by their standards this is a hefty wodge for staring at your navel. Most practitioners can tell then for free I’ll be bound. Mainly that the current system and personnel need binning and a completely fresh start needs to be made with people who have real life, hands on experience. But of course guess who will be a major recipient of all this consultation? You’ve guessed it – one or more the usual four suspects. Delottes, E&Y, PWC or KPMG. And where do you think a lot of the regulators come from and go to when they leave the FSA – gosh you’ve guessed again - the very same four. I wonder if putting one of the big four in the frame for a lucrative consultancy job has any bearing when you come to apply for a position with them when you leave the FSA? Of course not – after all aren’t they the ones who lecture us on ethics?

Posted by: Harry Katz

Harry Has Nailed It

Read Harry's comments. I have nothing to add.

Posted by: Alan Lakey

Respect has to be earned

and the end result will be what? Any better,don't think so, and i'll bet my last penny it will cost more than £12m and not make one jot of a difference to the "man in the street" - come on stop pulling the proverbial......

Posted by: Fraser Brydon - IFA

Sundry Item

The cost of new letter heads has been overlooked. The new figure is £17.8 million.

Posted by: Restructure Consultant