A short one today just to highlight a tortured irony rather than anything else! I would have thought that Lord Turner and Catherine Brown would not have been confused as Heads of the FSA. Lord Turner is probably welcoming the upcoming Twin Peaks just to clarify that his FSA will become the PRA and the FCA responsible for Prudential oversight of the big boys and conduct of everybody else in Financial services respectively. Its nice to see that the split is fairly accessible and each authority does what it says on the tin. As for Catherine Brown's FSA, I fear that food labelling may require far more work and the Foods Standard Agency may be struggling with consumer expectations more than than they thought they would have to.
At least any confusion between the two FSA's will be a thing of the past and there is no risk that Horse meat passed off as Beef will be compared to Endowments being passed off as Guaranteed returns, afterall we all want our products to do or at least be what they say on the tin,tray or packet whichever is applicable.
Huw Price February 2013
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