Report critical of FSA staff and costs - papers 17th Dec

A survey of more than 3,000 financial companies, by the Financial Services Practitioner Panel, on the performance of the Financial Services Authority criticised the watchdog for "over-zealous implementation of EU directives" and argued consumer protection was the main focus, "to the detriment" of its other responsibilities”. The FSPP report said the cost of complying with FSA rules was "the biggest single issue" raised by firms and was hitting the UK's “international” competitiveness while the ‘handbook’ is still "unclear and difficult to use". US MORTGAGE giant Fannie Mae is embroile...