Financial Foot In Mouth » FSA http://financialfootinmouth.co.uk Thu, 03 Oct 2013 06:20:39 +0000 en-US hourly 1 http://wordpress.org/?v=3.4.1 Rein Back the Financial Services Authority http://financialfootinmouth.co.uk/2012/07/rein-back-the-financial-services-authority/ http://financialfootinmouth.co.uk/2012/07/rein-back-the-financial-services-authority/#comments Sun, 08 Jul 2012 08:51:33 +0000 admin http://www.bigbrandideas.co.uk/financialfootinmouth/?p=212 In July 2004, Oliver Letwin stated that an incoming Conservative government would abolish or rein back the Financial Services Authority (FSA) because of its “Intrusive regulatory regime”, opining that the FSA was, “increasingly a tool of the Treasury” which threatened to squeeze the life out of the City by over-regulating it.

It is interesting that, only a few short years later, light touch regulation is being seen as one of the primary reasons for our current economic woes.  Indeed, the long-awaited report into the failure of the Royal Bank of Scotland was published in December 2011 and, principal among its causes, were `light touch regulation and a catalogue of financial errors’ (Daily Mail).  Populist statements, either in government or opposition often come back to haunt politicians.

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Respectable Companies http://financialfootinmouth.co.uk/2012/07/220/ http://financialfootinmouth.co.uk/2012/07/220/#comments Sat, 07 Jul 2012 09:04:21 +0000 admin http://www.bigbrandideas.co.uk/financialfootinmouth/?p=220 Not to be outdone, Tony Blair made a speech in 2005 in which he attacked the Financial Services Authority for “inhibiting perfectly respectable companies that have never defrauded anyone.”

Six years on, it is questionable whether the British public quite shares this sympathetic view of  financial services organisations.  As an example of such ill-advised practice, the report into the the collapse of The Royal Bank of Scotland subsequently showed, `the Financial Services Authority allowed (RBS) to run high risks with low stocks of capital and liquid assets and left it vulnerable to a loss of investor confidence…. and underscore how the regulator`s light touch approach, which emphasised cooperation rather than confrontation, helped speed RBS down the road to catastrophe’ (Financial Times).

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Marcus Brookes, on the short term prospects for the FTSE. http://financialfootinmouth.co.uk/2012/02/marcus-brookes-on-the-short-term-prospects-for-the-ftse/ http://financialfootinmouth.co.uk/2012/02/marcus-brookes-on-the-short-term-prospects-for-the-ftse/#comments Mon, 20 Feb 2012 22:30:09 +0000 admin http://www.financialfootinmouth.co.uk/?p=355 FTSE 100 (10/02/2012 @ 12.30 p.m.): 5845 FTSE 100 (17/02/2012 @ Close): 5905 (up 1.03%) FTSE 100 (20/02/2012 @ Close): 5945 (up 1.71%) Well, you pays your money……..

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