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's policy decision making and its regulatory operation.
For example, 2002's 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's 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.”