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FSA boosts Edinburgh staff to cope with wider role

The FSA is more than doubling its staff in Edinburgh to cope with mortgage and general insurance regulation and increase its presence in Scotland, Northern England and Northern Ireland.

It is increasing staff numbers from 18 to 42 and will move to bigger premises at Quayside House, Fountain-bridge, Edinburgh in June.

FSA staff working in Edin-burgh are mainly engaged in supervising firms dealing with issues associated with mortgages, general insurance and packaged products.

The FSA has seen its role expand significantly when it took on the regulation of mortgage firms from November 2004 and GI firms in January this year.

FSA spokesman Robin Gordon Walker says: “The move, which is being led by the small firms division, will enhance the FSA’s capability to supervise the extra firms in its remit and brings other potential benefits, such as new opportunities for training.”

Edinburgh-based Johnson Financial Services managing director Adrian Johnston says: “It obviously needs more foot soldiers in the region to do the mortgage and GI visits now that regulation has bedded in.”

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