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Will FSA staff be moved from London?

Labour plans to reduce the cost of having thousands of public sector workers located in London, saving tens of millions of pounds.

Given that the FSA is a public sector body, albeit funded by the private sector, this surely lends weight to calls for the majority of those who work for it to be included in this relocation?

Or will it, as usual, be a case of allowing the FSA to carry on doing whatever it wants at whatever the cost just because it raises its levies compulsorily from the financial services industry?

JULIAN STEVENS

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. George Williamson 1st April 2010 at 3:08 pm

    It might save some money but will not improve anything.

    The FSA have an office on Scotland yet every single Loan Offer issued for a Scottish property purchase since 31/10/2004 (except for the now defunct Bristol & West) is incorrect.

    I made the FSA aware of this problem before 31/10/2004 and also at various times since – their reponse has been to do nothing.

    Even with the introduction of Home Reports in Scotland on 01/12/2008 with buyers not now arranging or paying for a Survey, we still have detiled in Section (8) of the Loan Offer the “Survey Fee payable had the property been bought in England or Wales”.

    This causes lots of confusion for clients (seeing in a legal documents a fee that does not exist nor needs to be paid) and must be in clear breach of TCF, but is OK because the FSA will not change the KFI/Loan Offer template for Scotland.

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