Small firms give FSA worst score; Concern grows on principles-based reg

clock •

Small firms are far less satisfied with the FSA's performance than their larger counterparts in key areas such as the burden of regulation and their relationship with the regulator.

This is according to the fifth survey of regulated firms by the Financial Services Practitioner Panel (FSPP) which also identified a deterioration of understanding of the practical workings of More Principles Based Regulation (MPBR) since its last report in 2006. Although firms surveyed believed more forcefully in strong regulation than previously, 82% said the current regulatory system places too great a burden on firms. Almost half of firms with fewer than 20 full time staff (44%) agreed strongly with this view compared to just over a quarter of firms with 20 or more staff. Overall, s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

How economic abuse manifests itself in pensions, mortgages and protection

How economic abuse manifests itself in pensions, mortgages and protection

Second in a three part series

Shelley Read
clock 11 November 2026 • 5 min read
Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read
Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Firms urged not to rush sales

Isabel Baxter
clock 09 November 2026 • 4 min read