FSA increases spending and focuses on key areas

The FSA is to increase its expenditures next year by 3.1%, aiming to spend more time and resources on what it believes to be five several areas. One such area is consumer protection. The regulator has promised it will devote more time to identifying potential threats such as exaggerated claims in financial promotions or from undisclosed product risks. Howard Davies, chairman of the FSA, said: 'We plan to devote more resources to monitoring the retail markets, to analysing new products and the financial promotions that go with them and to proactive policing of such promotions.' Enforc...