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Consumers Association worries that FSA will lose sight of retail side

The Consumers&#39 Association is disappointed that the draft financial services Bill has not made a clear distinction between retail and wholesale consumers.


It says that it will be a major challenge for the FSA to balance the interests of the consumer, the industry and the financial services industry.


It is concerned that consumer affairs will be marginalised in such a large organisation despite the fact that the FSA has 50 staff dealing with consumer affairs.


Senior public affairs officer Francesca Arcidiaco says: &#34We need a change in the style and form of regulation away from regulation by vested interests to regulation that puts consumers at the centre of the system.&#34

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