Twitter is an interesting medium for gauging the sensitivities of particular interest groups on subjects of mutual concern.
With this in mind, I was quite surprised to see a tweet from an IFA that said “I support the FSA in the vast majority of things that they do. I think they’ve massively improved the industry. But not on FSCS”.
He is of course correct on the FSCS bit but I am not so sure about the rest. He then went on to tweet that “I’ve found your approach [Panacea?] has been from starting point to be against anything the FSA does, so am not a supporter. Sorry”.
Doing what I do, I always recognise that IFA opinion can be quite divided, but I have never witnessed such unqualified support for a regulator that, in the eyes of many far better qualified than me, has so demonstrably failed Consumers and the industry it regulates.
Is it me? Am I missing something?
It is true that we have on occasions been very critical of the FSA when appropriate and I think rightly so, here are just a few examples:
So with a few of the negatives highlighted we thought it may be interesting to see what IFAs think the FSA has done that is good for the industry, the IFA community, the mass market consumer, their aims, aspirations, hopes and fears.
I’m reminded of the famous line from Life of Brian: “All right, but apart from the sanitation, medicine, education, wine, public order, irrigation, roads, the fresh water system and public health, what have the Romans ever done for us”, we would love to hear from you what you see that the FSA has done for you in a similar vein?
There must be something…………. surely?