&#39Better regulation&#39 plea

In his final speech as chairman of the Association of Independent Financial Advisers at the Association&#39s annual dinner last week, Lord Hunt told guests that the predominant themes during his three years as chairman were regulation and reviews.

And, in a plea to FSA chairman Sir Howard Davies, he went on to say: “I urge the FSA to deploy rigorous self-denial on new initiatives. Sir Howard, you have been lumbered with a complex process that makes it hard for you to change anything. As the number of new initiatives mounts, so the process backlog grows. And any delay in the North Colonnade means a delay for businesses, too.

“Businesses, especially small businesses, cannot keep up with a flood of papers, any one of which may contain a torpedo for their plans.”