MSE News: City regulator: 'We got it wrong on PPI'

Alpine_Star

tifo wrote: »

The FSA is paid for in levies on firms 100%? Not a penny from the Govt (taxpayer)?

''We are operationally independent of government and are funded entirely by the firms we regulate.''

http://www.fsa.gov.uk/about/who

grey_gym_sock

admitting past mistakes is better than not admitting them. but at this stage it's pure assertion that they'll do any better.

when it's called the FCA, doesn't that mean it will be staffed entirely by chartered accountants?

tifo

Alpine_Star wrote: »

''We are operationally independent of government and are funded entirely by the firms we regulate.''

That's fine ....

undrop79

Apologising means nothing if you don't learn from your mistakes. They're in pretty much the same boat now with banks having missold IRSAs (SWAPS) to SMEs and whilst they've admitted that this has been happening in their investigations, they're not doing much to help or compensate those who have been affected.

The Government claims that it's SMEs that will pull the country out of the recession but how is this going to happen when the banks themselves are purposefully crippling them to increase their profits?

It's no wonder the public have lost all trust in the banks... bunch of crooks