The FSA is about to be empowered with even greater authority according to proposals in the Queen’s Speech. I’m sure that readers will believe that the FSA has adequate authority already as this week’s Newsletter illustrates.

All firms are affected by the first article, Policy Proposals for Fees and Levies, and the FSA is inviting responses up until 11 January 2010. One phrase in particular caught my attention, ‘With the result that Fees for the largest firms reflect the greater regulatory engagement they receive.’ Is this suggesting that firms actually enjoy regulatory engagement and are happy to pay for this service? Intermediaries would be severely reprimanded for such opaque language but we are all pleased to read that the big firms with big compliance problems are to pay bigger fees.

This week one reader commented, “I always copy down the reasons for any enforcement activities so that we can be sure to avoid all of them”. That is, of course, why we reproduce them and as far as we are aware, none of our listed readership has encountered enforcement.

If we can be of further service on this or other regulatory matters we look forward to hearing from you and please remember your helpline 08456 121211 or email admin@ifact.co.uk for a without obligation conversation.

Kind regards

John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211

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