BusinessCompany NewsFSA panel warns of red tape threat

FSA panel warns of red tape threat

The FSA Small Business Practitioner Panel has warned that an overload of over-complex regulations and compliance could push small firms to breaking point.

Link: FSA to issue risk guidelines

In its fourth annual report, the panel also called on the FSA to make its Handbook of Rules and Guidance more navigable.

While the sheer overload of regulations and cost of compliance are stretching the limited resources of small business, the panel says lack of clarity means businesses are in danger of inadvertently acting in a non-compliant way.

And with professional indemnity cover for some firms providing financial advice rising many times over, the panel asked the FSA to take urgent action to mitigate the ‘inadequacies’ of its Handbook of Rules and Guidance.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor