Imagine...........

[TeaLeaf]

Imagine that you worked in a profession whose Regulator was run by this man.  

If I seem a little irate from time to time then a short read of the article will tell you more than a little bit about why.  I'm a Certified Financial Planner and in my profession we are regulated by the Financial Services Authority, a body who seem to write their own rules to suit current media hysteria, congratulate us for adhering to their new rules and then fine us and censure us when they subsequently re-write the rules with the benefit of hindsight to suit a different media hysteria.  

• Even though the FSA have no statutory power to do so they over-rule the higest court in the country with some of their rulings (they recently unilaterally set aside a House of Lords judgement even though they are just a Limited Company without the power to do so).
• Contrary to English Law they presume that a Regulated Individual is Guilty until they prove themselves innocent.
• Contrary to English law they mandate 'compensation' to be paid on the basis of an unincurred loss.  They actually prohibit settlement of any compensation on the basis of actual loss which is what statue demands.
• They charge all Regulated Firms a Fee whenever someone makes a complaint against that member firm even if they complaint is unsuccessful.  
• They fail to take action against those multiple complaints where the substance of the complaint is vexatious or simply fraudlent (see many website-scripted complaint letters on alleged endowment mis-sales as an example).

They are a headless monster, run by a Tiney man with a very large attitude problem and a (probably) small endowment.

They are not monitored or controlled by anyone and seem to fine people to fund their ever increasing budget.

The FSA are a truly stunningly inept organisation who have driven the overheads and the volume of paperwork required in my profession literally sky high.  The net result is that my fees to clients need to be higher.  Of course Tiner would argue this is all for the benefit for the consumer.  Right.................  :angry:

TL.

[suicidal_monkey]

careful, he may have underlings trolling gaming forums for this sort of subordination :ph34r:


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