FSA 'weak' in assisting consumers

The Financial Services Consumer Panel’s annual report, published today, assesses how the Panel thinks the FSA is doing in fulfilling its obligations to consumers in the way it regulates the financial services industry. It assesses the FSA on three main themes – protecting consumers, promoting consumer understanding, and developing the right regulatory framework. The FSA has been scored as ‘weak’ in the following areas: Self-certification mortgages: although the FSA carried out research on the sale of self-certification mortgages, the Panel does not think it appreciated the potent...