FSA admits staff lack experience - papers 21 June

FSA boss Howard Davies has admitted that his staff lack sufficient experience to task the complex regulatory regimes affecting the financial services industry, the FT reports today. The admission comes after a period of intense criticism from banks and other financial institutions. "An intensive programme of training and development will be necessary to correct that deficiency," Davies says. US regulators are meanwhile promising action of their own in relation to accountancy standards. "Public outrage at scandals from Enron to Xerox and Tyco has galvanised the White ...