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Another fin mess by FSA?

The FSA is considering forcing providers to use website addresses with .fin suffixes in a bid for consumer protection.

The scheme would see all regulated firms using .fin addresses, with the aim of assuring users they were dealing with an FSA-regulated company.

The plan is raised in a discussion paper this week which claims it would help it achieve three of four key objectives – consumer protection, fighting financial crime and maintaining market confidence. The FSA concedes that costs, to providers and to itself, would be great.

The regulator says it has put the project on hold for the immediate future but will consider whether to apply to the Internet Corporation for Assi-gned Names & Numbers, which secures web addresses.

Financial Technology Centre director Ian McKenna says: “A lot of people have spent a lot of money acquiring domain names. It is probably an imp-ractical idea.”

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