A “Brown noser” is defined as an employee who tries desperately (and unsuccessfully) to impress the boss and be promoted.
With this in mind, we hear that the FSA has set out how adviser business models will be tested.
They are quoted as saying the guidance is not specific or exhaustive. then add: “Although a specific business model threshold does not currently exist, when assessing a firm against the threshold conditions as a whole, the FSA does ask for information about a firm’s business model.
“Therefore the revised threshold conditions, which now include a specific business model threshold condition, make explicit what is already implicit and as a result we believe our new business model guidance reflects existing practice.”
Who wrote this, why and someone, anyone, please explain what this means.
I think that this statement must qualify as one of the very worst examples of regulatory “W Cubed” speak- the unrealistic claim that your company can deliver whatever, wherever, whenever it’s needed to the regulator.
This is such a bad example we are offering a prize, not too big, for the best translation to plain ENGLISH.