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CITY VIEWS: IS THE FSA LIVING UP TO ITS PROMISE TO CLAMP DOWN ON THE CITY?

<!--StartFragment--> <strong>GARETH LAWSON&nbsp;</strong> K&amp;L GATES<br />&ldquo;I don&rsquo;t think the FSA is a very effective regulator. In the past, it has always taken a very light touch, and only recently has it shown any bite. It is now trying to take a harder line, something which is long overdue, but I think it is just trying to become popular with the public and to be seen to be doing something.&rdquo;<br /><br /><strong>NICK CORBYN&nbsp;</strong> M3 PROPERTY<br />&ldquo;I think it&rsquo;s a toothless tiger &ndash; and always will be. If you look at how it let Fred Goodwin get away with it, and how it didn&rsquo;t spot Northern Rock&rsquo;s mountain of retail debt, it shows that regulation was not being enforced, or that the FSA was not being stringent enough. I don&rsquo;t think it has the necessary skills.&rdquo;<br /><br /><strong>NICK YIP&nbsp;</strong> RIMES<br />&ldquo;The FSA is meant to be regulating the City, so it needs to show that it is doing its job. Somebody needs to show they are in control. I don&rsquo;t know whether fines are the best way of clamping down however, as some of the big firms can easily afford them. A combination of fines and other sanctions is best.&rdquo; <!--EndFragment-->