Anyone work / understand how the FSA work?

whiteflag_3

Not sure this is the correct forum to post this, but being as there has been so much about RBS, possibly might generate a reaction or two.

I was listening to J Vine at lunchtime and they were talking about if direct action should be taken against Sir Fred "The Shred" Goodwin, as he oversaw the demise of the RBS, and the subsequent share price collapse that has led to financial misery for many people.

Now the upshot as I undertood it, is that unlike the USA, no direct action can be taken. ie the police cant just walk in to RBS to see if any criminal negligence etc took place. Fair enough if thats the way we do things in GB.

What I want to know is if anybody knows if the FSA are going after him and the other board members, because if Fred was the boss of an IFA business or mortgage broker that might have caused their clients to lose money through negligence, they would be pursued by the FSA for the rest of their life, fined and probably never allowed to operate in financial services again.

So are there any FSA people that read this forum, who can confirm why, making a few inappropriate mortgage recommendations requires a life sentence for an IFA, while being completely reckless with one of the country's biggest financial institutions, collecting bonuses while hoodwinking investors and bringing the country to the brink of bankruptcy appears to be ok in the eyes of the FSA.?

CLAPTON

how does the FSA work.... badly

EdInvestor

Lifting the ban on shorting bank shares last Friday was the best one yet.

Such fantastic timing.

:rolleyes: