CP121 confirms the destruction of one well-known maxim and endorses the accuracy of another. It used to be “those who can, do – those that cannot, teach.” Now those that cannot have a career choice – they can regulate.
The blatant capitulation of CP121 to the power players in the industry demonstrates the truth of “absolute power corrupts”. The pathetic arguments within CP121 condemn the FSA to being less principled than those it purports to clean up.
The recent publication of the FSA's plan and budget 2002/03 highlights how much this charade is costing practitioners – and ultimately consumers.
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