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The Actuary The magazine of the Institute & Faculty of Actuaries

Breathless news from the four-mile high club

Twenty-six per cent of City staff feel that the Financial Services Authority (FSA) has had little impact on the UK financial services market, according to a recent survey by Wide Learning (a provider of e-training on FSA regulation).

This year’s survey shows significant changes since its forerunner of 2002, when 39% felt that the FSA had made no real impact on the running of the market. Since 2002, the proportion of respondents believing the FSA to be effective has doubled to 63%.

However, the FSA’s status is not so marked among senior managers, 38% of whom feel that the effect of the FSA has been slight.

The answers might have been different if these unimpressed managers had been made to walk the FSA’s talk: according to a recent utterance by one of its elders, the FSA has now produced around four miles of consultation, regulation, and associated scripture. The streets of Canary Wharf can now be paved not with gold, but with something far more glittery…