FSA targets its focus on IFAs and brokers

Details of the FSA plan and Budget consultation says the city watchdog will continue with plans and priorities it set out last year, while also including new responsibilities for mortgages and general insurance. That said, give 97% of the 25,000 FSA-regulated firms are now 'small firms' Callum McCarthy, FSA chairman, says: "With our new responsibilities for mortgage and general insurance brokers comes the responsibility for a further 14,000 firms, almost all of which are small firms.” Interestingly, following its much-publicised tribunal with Legal & General, the FSA says it will also r...