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Be a partner to FSA

Commission Round Table report by Sam Shaw

Financial firms should try to work in partnership with the FSA and not treat the regulator with a “them and us” attitude, according to Lansons Communications director Ralph Jackson, who heads the company’s public affairs team.

Jackson said that after FSA chairman Callum McCarthy’s recent speech, in which he said the current distribution model is broken, there is a risk that that relationship between advisers and the regulator could sour.

He said if the industry and FSA cannot work out the problems of the industry together, the danger is if the Government gets involved or brings in legislation to make a change in distribution.

Jackson said that if the industry is to learn anything from previous mistakes it is that reform cannot happen without casualties.

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