Grounds for the scrutiny of regulators

The FSA and OFT are called on to work together as Aifa says the regulator must offer value for money

The FSA is continuing to receive criticism from industry bodies with Aifa calling for the regulator to be scrutinised by the National Audit Office (NAO) every two years. Aifa last week published its submission to the House of Lords Select Committee inquiry into UK economic regulators. In its submission, Aifa highlighted the need to ensure the regulator is providing value for money. The association also asked for the FSA and the Office of Fair Trading to work together, and for the FSA to carry out post-implementation reviews of its work. Chris Cummings, director general at Aifa, said the ...