FSA 'doing too much at once', says AIFA

In its response to the Practitioner Panel’s review of the FSA, AIFA says the regulator must listen to the diverging views and improve the level of service it provides to regulated firms. Chris Cummings, director general of AIFA, says: “We firmly believe that when it comes to regulation, ‘less is more’. At the moment the FSA is trying to accomplish too many things at once. "While other European regulators are focusing solely on the impact of MiFID, the FSA is also delivering on the move towards a more principles-based regulatory regime. Can firms really cope with this level of change?” ...