Sheriar Bradbury: Has the FSA missed the point?

Crunch time came on the 6th November when the FSA published its ‘Review of the prudential rules for Personal Investment Firms' detailing its plans to delay new requirements (3 months fixed expenditure with a minimum of £20,000) until 2013, which seems like a bow to common sense at first. However, when taking a closer look what the FSA are actually proposing is phasing in these measures, starting in 2011 at one month of ‘fixed expenditure' and building up to three months in 2013. This brings me to ask, as should the rest of the industry, what is the FSA thinking? How many firms will be re...