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It&#39s the punters who will pay

The FSA&#39s contribution to chaos and the obliteration of the world&#39s forests has continued undaunted.

What is our regulator up to? As Howard Davies has already had to accept a cut in bonuses for the failings of the FSA under his stewardship, he seems to be determined to recoup this loss and more by engineering his own demise.

A golden goodbye, the likes of which we have already witnessed in our perceived cash-rich industry, is bound to be on the cards for this visionary yesterday&#39s man. Hindsight is a wonderful thing but someone should tell Sir Howard that it does not mean revisiting the past. It wasn&#39t that wonderful, Sir Howard.

Of one thing I am certain. This industry has been kicked in the sphericals by more skilled operators than Sir H and not only survived but metamorphosed into an even trickier entity. Sadly, it is the punters who will eventually inherit the whirlwind and this makes me really mad.

Why should my clients of the last 32 years be disadvantaged as a result of decreasing returns caused by increasing costs, regulatory burdens and financial chaos created by a regulator that is not worthy of the name or position?

Buck Lopez

Capital Financial Services,

Bexhill-on-Sea,

East Sussex

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