FSA criticised for excessive compliance costs - papers November 29

THE FSA is criticised for the "excessive and growing" costs faced by financial services firms in complying with its regulation, the Telegraph reports. An independent survey carried out by the Financial Services Practitioner Panel, set up to monitor the Financial Services Authority's effectiveness, found that just one in seven firms thought cost was reasonable. The research, which questioned 3,890 senior executives in financial firms, found that 50% of chief executives thought the costs were excessive, compared to just a third when the same survey was carried out in 1999 before the...