Blow for FSA as confidence in RDR falls

According to the Panel's latest findings, due out later today, 47% of polled firms said they welcomed the initiative, down from 60% in 2009. In a wide-ranging survey showing general confidence levels in the City watchdog plummeting across the financial services sector, the panel also suggests fewer than a fifth of banks, brokers and insurers believe the FSA responded effectively to the banking crisis. Businesses gave the FSA an average mark of 3.7 out of 10 on its efforts to maintain confidence in the financial system, down from 4.3 in the 2008 survey. In light of the FSA adopting ...