FSA consumer responsibility project 'flawed'

In its response to an FSA discussion paper, the Financial Services Consumer Panel (FSCP) says the regulator "should focus its attention on the firms it authorises, not the consumers it is set up to protect." It adds the retail market is suffering not because of consumers' actions, but because of the behaviour of firms. In December last year, the FSA launched a discussion paper on consumer responsibility to explore what steps the regulator or others could take to help consumers understand and protect their own best interests more effectively. "It is entirely reasonable that the FSA sho...