Aifa director general by Paul Smee
“2000 was the year of the consultation paper. In battalions they came, sometimes two at once, thick with draft rules and questions. The good, the bad, the indifferent, and, most of all, the mixed.
“The good. Some sensible stuff on risk-based regulation, a relaxation of over-prescriptive training requirements, a decent scheme for pursuing complaints against the FSA itself and the requirement that workplace presentations on stakeholder are only given by qualified staff.
“The bad. Changes to polarisation, where the can of worms has been opened but the nature of its contents will not be apparent for a while yet.
“The mixed. Positive indicators – FSA fees to be calculated by reference to RIs, not turnover, jostled alongside others which seemed designed by those who regulate big firms for their convenience. Why, for example, did the FSA have to withdraw the facility of paying their fees by monthly installment?
“Here's to the end of the year of the consultation paper.”