views

CITY VIEWS: ARE THE CONSERVATIVES RIGHT TO PROMISE TO ABOLISH THE FINANCIAL SERVICES AUTHORITY?

<strong>SANDY BRUCE </strong> COMMERZBANK<br />&ldquo;No. I don&rsquo;t really see what is wrong with the FSA in its current form. There has to be some kind of impartiality there and the FSA is external to the government. This is probably more about David Cameron&rsquo;s need to try to drum up votes, taking advantage of the fact so many people are anti-banker at the moment.&rdquo;<br /><br /><strong>DOM HARLOW </strong> M&amp;G INVESTMENTS<br />&ldquo;Yes. On the face of it this is a good idea, provided they can put in place the right levels of scrutiny at the Bank of England. The FSA certainly needs reworking &ndash; it has failed in the regulation of the banking industry and Equitable Life. But it also looks like the Tories will do anything to get back at Labour right now.&rdquo;<br /><strong><br />DAN WHEATLEY </strong> SJ BERWIN<br />&ldquo;No. I suspect this will make no difference at all. You are still going to need all the bureaucrats to do the various functions. Clearly they need to do something and the regulatory structure does need to be reworked. But the focus should be on <br />making the FSA act more quickly and be more flexible to business.&rdquo;<br /><br /><strong>DANIEL ROSS </strong> DOVE NEST GROUP<br />&ldquo;Yes. There will be more focus on the needs of the customer rather than the institutions under the new regime. People should have a say in what happens when the state-owned banks are broken up. And it is fair for the government to show that &ndash; given what has happened in the last 12 months &ndash; lessons have been learned.&rdquo;