FINANCIAL TRADE BODIES have backed Tony Blair's claim the Financial Services Authority was "hugely inhibiting of efficient business", says the Daily Telegraph.
The Association of IFAs pointed out in the Telegraph’s latest campaign FSA rules force its members to supply clients with four different documents before even opening a conversation, followed by more than 12 pages if they want to make a sale which complies with the regulator's rules. Aifa deputy director general Fay Goddard told the Telegraph: "We feel the comments Tony Blair made reflect the situation that reasonable firms are struggling with a huge weight of bureaucracy. We all support effective regulation but, when it gets to the point that it is getting between a business and its cus...
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