FSA focusing too much on the consumer

Two-thirds of financial services practitioners believe the FSA focuses on consumer protection to the...

Two-thirds of financial services practitioners believe the FSA focuses on consumer protection to the detriment of its other objectives, eroding the concept of buyer responsibility. Respondents to a survey by the Financial Services Practitioner Panel said general confidence has been undermined by the perceived naming and shaming of firms and the apparent erosion of the caveat emptor principle. The Practitioner Panel, set up under the Financial Services and Markets Act 2000 (FSMA), comprises senior figures from a cross-section of the financial services community, ranging from LSE chief exec...