FSA failing to meet its own standards

[Amethyst]

FSA failing to meet its own standards

14 October 2010 | By Natalie Holt




The FSA has spectacularly failed to meet its own service standards for dealing with applications for authorisation after revealing it was unable to deal with over three-quarters of cases within its three-month limit.
The regulator has internal service standards requiring it to process a complete corporate authorisation within three months in 75 per cent of cases but between October 2009 and March 2010, it completed less than 25 per cent of 501 cases within the limit.
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Data obtained from a Freedom of Information request by law firm Reynolds Porter Chamberlain reveals that between the second quarter of 2007 and the second quarter of 2010 the average waiting time for FSA authorisation nearly trebled from 7.9 weeks to 21.1 weeks.

FSA failing to meet its own standards | News | Money Marketing


Reynolds Porter Chamberlain - Latest news - Businesses having to wait even longer for FSA authorisation



Isn't that a good thing from the customers point of view ?

[EXC]

Re: FSA failing to meet its own standards

I was just reading this research on consumer's views on the FSA http://www.fsa.gov.uk/pubs/consumer-research/crpr83.pdf

Nearly 50% of consumers are not confident that the FSA are regulating firms effectively.