AIFA warns of regulatory crack-down

Director of AIFA Robert Sinclair says the move to break-up the tripartite financial system will see the rules tightened still further and risks "regulating out" good ideas. The Government will phase out the FSA over the next two years, with control over adviser firms passed to the independent Consumer Protection and Markets Authority. Sinclair said at an Aviva Round Table debate after the first coalition Budget: "I see regulation being more draconian and harsher, especially for product manufacturers." In yesterday's Budget documents, the Government intimated it intended to take a f...