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Industry given chance to review FSA performance

The Financial Services Practitioner Panel is preparing to launch the first stage of its 2006 survey of regulated firms to obtain an industry assessment of the performance of the FSA. The survey, which is carried out every two years, will be released later this year.

Issues that emerged from the 2004 survey included the ever increasing cost of regulation, the treatment of smaller firms and the sheer volume of consultation papers the FSA.

The survey, to be conducted by GFK NOP, will be divided into qualitative and quantitative stages. The qualitative phase, involving a series of interviews with senior FSA staff and with a representative sample of senior staff from a cross-section of regulated firms, will commence shortly. This will provide feedback and will also be used to help identify issues for inclusion in the quantitative questionnaire that will be sent to firms in the summer.

The FSA says M&GI firms will be included in the study, but this will be done in such a way as to reflect their “newness” to FSA regulation.

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