Regulation needs 'robust questioning' - Aifa

Speaking at the annual Aifa and Ami London Conference, Cummings warns the intermediary industry faces numerous challenges such as the rising costs of the Compensation Scheme, the review of the Financial Ombudsman Service (Fos), the accountability of the Financial Services Authority (FSA) and European regulation. He adds: “The costs and burden of regulation creep up year upon year. Taken on their own, each may look reasonable, of little concern. That is why we must always question – is this necessary? How much will it cost? What benefit will result?” Walter Merricks, chief ombudsman at t...