FSA should discuss prudent spending with an adviser
Editor’s comment of the week
Response to the FSA’s budget and fees announcement
I do not think any of us mind paying fees/levies/taxes if we feel they will be spent well and help protect consumers in a sensible manner but I just do not have any confidence that the FSA or FCA will achieve this.
I would suggest that Mr Sants and the FSA budget controller could do with meeting an IFA to discuss prudent spending within a budget and prioritising needs.
I really do fail to see how the FSA has managed to spend £500m and where it has added value. Increased costs to the industry in many cases lead to added costs for the end consumer. The FSA should bear in mind that increasing costs could put financial advice out of the reach of many which does not benefit anyone.