Market Comment 21st June 2010 PDF Print E-mail
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Written by TrigoldCrystal Marketing Manager   
Friday, 25 June 2010 00:00
So we have had statements from the Chancellor that the FSA is to be scrapped (sort of) and responsibilities for Macro and Micro economic policy be transferred to the Bank of England under a new Financial Policy Committee and Consumer Protection and Markets Authority. While this is a great opportunity to right some of the wrongs that the regulator has made over recent years - wrongs which have come from structural flaws as well as policy decisions - this change nevertheless will create another burden on advisory firms. It is not simply the fact that we will all need to educate ourselves about what the new authorities do and require to comply with this new regime, it is that there will be many things that we will all need to do to ensure we erase references to the FSA and change this to the new CPMA.

We though we would take an early opportunity to ask you, our clients, what you estimate the impacts will be, from the high-level changes right down to re-printing marketing literature, alterations to websites, and additional staff training.

We hope to get a good list of issues and things to think about that we can publish next week so we can all help each other get a leg up on what will be a whole new set of requirements sooner rather than later.
Last Updated on Monday, 05 July 2010 09:24