A recent Financial Services Authority job advertisement for a chairperson on its regulatory committee who can expect to earn £150,000 for just three days' work has raised eyebrows in the industry.
One anonymous broker says: “Good work if you can get it.This is another insight into the FSA. It's good to know that our money is being invested wisely.”
The advert in the national press says: “It is seldom that opportunities arise to work at the forefront of financial services regulation.”
It adds that the applicant should have a legal background, business awareness and an understanding of the wider implications of regulatory work.
But some brokers believe a job of this nature merits a substantial salary. Neil Franklin, partner at Franklins Financial Services, says: “I'm not sure it's enough, I can think of easier ways to make money. I'm not sure I envy the person who gets this job.”