Rogue traders cash in as watchdog flounders - Times Online
"Critics believe the FSA’s failure to tackle established bankers and traders is partly due to the fact that it is funded by the banking industry. There are also concerns about the expertise of some of its lawyers."
Correction: The FSA is UNDERFUNDED by the banking sector which means it can't afford the proper resources (decent lawyers included) to do the job, until the big players pay proporionally far more for supervision the FSA will continue to pick off the smaller firms, just like the police who find it far easier to make a fuss about fining ordinary people for speeding the FSA publishes 'success stories' such as banning a small IFA for failing to pay his disproportionately high fees.
Society is in dire need of regulatory balance, I see none.
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