A report conducted into the performance of the chief city watchdog, the Financial Services Authority, has found that nearly half of CEs thought that regulatory costs had become a burden, compared to just 35% in 1999.
The FSA also came in for criticism over the lack of guidance given to companies since it received its powers a year ago. And it came under fire for the complexity of the regulations handbook.
The FT quoted Donald Brydon, chairman of the Financial Services Practitioner panel as saying: ‘Overall the creation of a single regulator is viewed as beneficial, but there are a number of amber lights and we hope this informs the FSA about what they need to do about it.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements