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Heritage

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Jenny
642569.  Wed Dec 02, 2009 11:42 am Reply with quote

My goodness, it actually has happened! Now there's unexpected.

 
Flash
642597.  Wed Dec 02, 2009 12:20 pm Reply with quote

Neotenic wrote:
it could be said that The Tony & Gordon Show did bring about a reduction in red tape by merging a number of regulatory bodies into the single entity known as the FSA.

But a) not an overall reduction in bureaucracy across the country as a whole and b) not really a reduction in bureaucracy even in financial regulation, since the FSA has a much wider remit now than its predecessors did in aggregate when they were merged.

 
Neotenic
642661.  Wed Dec 02, 2009 3:06 pm Reply with quote

Yes - I agree it is a little bit tentative - but there isn't any bureaucracy that could be reduced that would affect the country as a whole, really.

Plus, big financial companies that had to deal with a number of the seperate regulators ended up with a single point of contact, a single set of returns to complete and a single fee to pay.

I also wonder how much time and effort was spent by the PIA, the SFA and IMRO referring befuddled folks to the the right body.

I'll cheerfully concede thatin the grand scheme of things, it isn't an enormous reduction - but I still think (at least until 2005 when M&GI brokers joined the fold) it did represent some scaling back in the red tape.

 

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