FSA under fire over compliance

The trade bodies have both spoken out against a recent trend for significant regulatory developments to be announced in speeches or published without formal notification on the FSA’s ‘labyrinthine’ website. Fay Goddard, AIFA director of policy, said such tactics created a danger of a lack of awareness of major policy and rule changes. This, she said, could leave regulated firms in jeopardy of unwittingly breaching regulations. “We feel there needs to be more clarity about the rules now. Waiting for things to be published on websites or to come out in speeches is unacceptable.” Goddard c...