The truly horrifying and calculating way the FSA considers the livelihoods of individual advisers was revealed in its true colours today at the Treasury Select Committee hearing.
Replace how many advisers are needed to serve consumers well with ‘levels of capacity' and you have an idea of the Dickensian way in which Canary Wharf works. The TSC and FSA seemed polls apart today with irate MPs representing their constituents or ‘real people' and the regulator representing a filing cabinet filled to the brim with statistics. However, at several points in the debate the FSA machine did not even have their stats to hand. There were embarrassing pauses when an MP asked them for figures on the average age of advisers, and they were unable to fall back on their own kn...
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