Am I the only one in the City who is absolutely flabbergasted by the announcement today from the super-regulator, the FSA? I hope not otherwise we're all in trouble.
Here is the link http://www.fsa.gov.uk/pages/Library/Communication/PR/2011/008.shtml
QUOTE from the FSA link...
Sheila Nicoll, the FSA’s director of conduct policy, said:
"Rebuilding trust between customer and adviser is absolutely vital for the future prosperity of the retail investment market."
***So where is the breakdown of trust between independent advisers and clients? It's appalling to think that this is being said when everyone knows that any client is free to seek advice from anyone in or outside the financial services world. If one doesn't like the adviser one goes elsewhere***
There are so many things going wrong here frankly I haven't got the breath to elaborate further suffice to say that millions of british men and women fought two world wars to safeguard our freedom. It seems that the policies adopted and put into practice today by FSA are more akin to soviet doctrine. When is someone going to stand up to this appalling arrogance and nonsense? Where are you Mr Cameron? Your late father was a respected stockbroker. Surely you can see the futility of this chirade?
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