Tenet: Government must review 'uncontrollable' cost of regulation

The support services provider and network said the Financial Services Authority's (FSA) decision to increase its budget from £500.5m in 2011/12 to £578.4m for 2012/13 had caused "consternation" within an industry already affected by regulatory changes. Keith Richards, distribution and development director, said: "At a time when the government is preaching austerity and implementing major spending cuts, the FSA seems entirely exempt? "For while the industry has to foot the bill, it is the consumer who ultimately pays, as these ever-increasing costs will of course be passed on and impac...