Regulation is required but only where it does not impose an "unnecessary burden" to retail financial services, Callum McCarthy, chairman of the FSA, said last night.
The Financial Services Authority is struggling to implement policy in the face of increasingly hostile use of Financial Services and Markets Tribunal appeals and ignorant consumers, according to Callum McCarthy, chairman of the FSA.
The Financial Services Authority is arguing a rising number of appeals against fines it levies on firms and individuals breaking City rules is slowing down the disciplinary process, reports the Guardian .