Davies tells ministers "FSA is understaffed" - papers 14 Nov

Professional Adviser
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Sir Howard Davies, the chairman of the Financial Services Authority, yesterday said that the regulat...

Sir Howard Davies, the chairman of the Financial Services Authority, yesterday said that the regulator "did not have enough staff" to double-check all the information that it received, says this morning's Times. Sir Howard made the statement at an often hostile session before the Commons Treasury Select Committee to answer questions on the demise of Equitable Life. The FSA employs more than 2,000 people, including 157 involved in frontline insurance supervision. Sir Howard was challenged by MPs on the committee over the statement. Nigel Beard, the Labour MP for Bexleyheath and Cray...

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