FSA rules 'prevent branches lending to small firms' - Telegraph
The fundamental issue is the legislation passed by Parliament when the FSMA was doing the 1,200 amendment dance until the early hours when most MPs had gone home.
We have to ask ourselves why commecial lending is regulated in the first place, a business should not be classed as a 'consumer' just because its turnover is below a certain amount.
I hope the new government cuts some of the regulatory red tape which is crippling our financial services industry and in turn economy, unfortunately I don't think Mark Hoban will have the stomach for a bonfire of legislation that at least two of his colleagues would dearly love to have.
I have a plan!, Will nobody listen?
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