The government estimates that the cost of closing the FSA and remoulding financial services regulation will be about £50m, so what will we get for that?
The first question before any reform goes ahead has to be – will the government be using existing FSA staff and if so how many?
In other words, will it add up to much more than a name change? I have to say, £50m sounds like a hell of a lot of money to put some new stickers on windows and rebrand some stationery.
I appreciate there may be more to it than this but how can we be sure that it won’t just be a case of same organisation, different name?
Alan J Nadin