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FSA’s cancellation process puts the cart before horse

It was interesting to read last week how one reader felt the regulator was correct in punishing a broker by cancelling its permissions for non-payment of fees.

What I find unusual is the fact that a regulated firm has to resign from the FSA register before March 31 but the FSA does not send out an invoice for its fees until June.

When a regulated firm finally sees how much has to be paid out, the firm may find the FSA fees are no longer affordable.

Should these dates not be the other way round? I wonder if the FSA is treating regulated firms fairly?



Roger Edwards

Critical illness is the real threat to income

During the recent ash cloud crisis it seems airlines largely decided for themselves whether or not to continue flying. Ryanair’s Michael O’Leary even declared the ash ’mythical’ after carrying out his own assessment of the airborne contamination. Everyone has their own attitude towards risk. For some people it might be taking up an exhilarating but […]


2- The number of speeches by former MP John Gummer, chairman of the Association of Mortgage Intermediaries, at its annual dinner last week. 45.42minutes – The total length of all five speeches given at AMI’s annual dinner last week. 10- The number of members of the Financial Policy Committee which sat for the first time […]


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  • Adam Smith 21st June 2011 at 9:46 am

    Shame the fees are published on 1 February, otherwise the author might have a point…