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Practitioner panel starts to assess FSA&#39s performance

The Financial Services Practitioner Panel is launching the first stage of its biennial survey of regulated firms, which aims to assess the performance of the FSA.

The panel says that, in the past, results from the survey have been taken on board by the FSA and had a considerable impact on the regulator&#39s policy decision making and its regulatory operation.

For example, 2002&#39s survey brought to light the increasing cost of regulation, the inaccessibility of the FSA handbook and the lack of informal guidance, and the FSPP says these issues are now prioritised more appropriately on the regulatory agenda.

A quantitative questionnaire will be sent to around 10,000 practitioner firms in the summer, and final report findings will be published later in 2004.

Chairman Jonathan Bloomer says: “This survey will give the regulated community a valuable opportunity to have their say about the FSA&#39s performance and suggest improvements. It will also give the panel a timely insight into the issues of greatest significance to the industry. This will help us engage in constructive dialogue with the regulator at a time of further change within the FSA.”


Standard bearer

What an interesting letter from Paul Smith, who wonders if fellow IFAs can reassure him that his experience of getting policy information from Legal & General is not typical of the way that other providers in this industry operate (Money Marketing, February 12). I am sorry to tell him that it is absolutely typical and […]

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Commentary Palatable menu

Over the coming weeks, I am sure that Money Marketing is going to carry some starkly contrasting views on the latest FSA proposals for a menu approach to disclosing the cost of advice. I think that good intermediaries should be giving three cheers while firms that offer an indifferent service should start to worry. The […]

Drawdown offer from Norwich Union

Norwich Union is removing plan management and early encashment charges from its Trustee Investment Product used for income drawdown. The only charge it will make will be the 0.625 per cent annual management charge. Norwich Union says it expects income drawdown to grow in the run-up to pension simplification in April 2005. Norwich Union head […]


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