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Financial Services Authority

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      09.08.2008 10:16
      Very helpful



      If you're reading this, take a look at the changes that the Charity Commission made

      The Financial Services Authority regulates a number of industries in the UK - primarily those that relate to money matters, for instance insurance and financial advisors.

      I deal with them from time to time as I work with a number of industrial and provident societies. These organisations do things like run retirement and care homes and village shops. They tend to be small, not for profit organisations.

      I am writing this review for a very specific reason - in the hope that someone from the Financial Services Authority might see it. Because, at the end of the day, if you need to deal with the Financial Services Authority, you are unlikely to have any choice in the matter so a review from that point of view would not really work.

      Bearing in mind the type of organisation that I work with - organisations that are pseudo charitable social enterprises - they could really do with some help and a friendly voice on the end of the phone. At the Financial Services Authority, that could not be further from what you get.

      Clearly, they do not want to be dealing with industrial and provident societies - they are a bolt-on to what they normally deal with on a day to day basis - and that really comes across. The contrast between them and the Charity Commission could not be more stark. The Charity Commission is probably the most helpful and user-friendly governmental organisation that there is - whereas the Financial Services Authority seems to be deliberately obstructive while reveling in its 'scary' 'nasty' image.

      There is no reason at all that they need to be like that - it is purely their choice. A few years ago, the Charity Commission was less than helpful - now they are completely the opposite. The Financial Services Authority would do well to take a leaf out of their book.


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