FSA is not to blame for the actions of a few dodgy brokers
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I was interested to see your recent story about six brokers being banned by the FSA, with one being fined £130,000.
This prompted one contributor on Mortgage Strategy Online to comment that it was “great to see the FSA banning and fining people it authorised”.
But if the FSA is held to be the organisation that is ultimately responsible, surely the DVLA should also be held to account when someone crashes their car.
Surely it should never have given the driver a licence, although there might have been other influencing factors involved in the crash, such as alcohol.
In the case of these brokers, the influencing factor seems to be money, and making as much of it as possible even if the method is not entirely ethical or legal.
Unless they were doing this at the time they were authorised, can we really blame the FSA for their actions later on?
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