The FSA was very busy this year putting its stamp on the world it will inherit come the mythical date, N2.
Before it even got its feet off the ground, the regulator was busy shooting from the hip commissioning rep orts and making recommendations that could fundamentally change the IFAs' world.
After the now infamous London Economics report was published in July, the FSA followed it with a recommendation to scrap polarisation, and then scurried around trying to justify its decision.
Just when we thought it was safe to come out of the water they come after us again. Despite all the coherent argument put forward in favour of polarisation there was a distinct lack of coherent argument put the other way.
While it was busy with IFAs, the FSA was sitting on its hands as one of the UK's oldest life offices was forced to close its doors to new business.
Ironically this non-action could have been the greatest benefit to IFAs, as the Equi table Life was always public enemy number one when it came to poaching IFA business.