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Broker Talkback

Do you agree with the FSA’s move away from principle-based regulation?

Yes 63%
No 37%

Yes “It needs to regulate the banks very heavily. It has not had a sensible remit. It has been too wide and too vague.”
Ian Jones, Ian Jones & Associates

Yes “The principle-based system has been toothless and inconsistent in its approach. It has allowed the banks to get away with too much, which is why we are in this mess.”
Paul Wright, Leeburn Financial Planning IFA

Yes “In certain areas of financial services it is the right thing to do, such as the banking sector, but if the FSA imposes it on IFAs, then it might be a case of throwing out the baby with the bathwater.”
Sean McCabe, Sean McCabe IFA

Yes “If it means institutionally, then we do need a regulator with teeth monitoring the banks more carefully but I do not agree if it means interfering with IFAs and their day-to-day business.”
Chris Wharton, Chris J Wharton

No “The FSA is constantly shifting the goalposts for IFAs.”
Eugene Goodwill, Eugene Goodwill IFA

Yes “It will certainly weed out any problems there are in the industry. But it all depends on how the FSA is going to implement the change.”
Mark Bassant, Bassant & Co Financial Services

No “I don’t agree with the FSA’s decision because it is impossible to identify what the next threat is going to be in the economy.”
Ian McKeever, Ian McKeever & Co

No “It is another blunder by the FSA. I do not see the point in the regulator at the moment.”
Alok Dhanda, Dhanda Financial

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