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Wednesday, December 15, 2010

FSA Digs Itself Deeper Into The Mire

The beleaguered and failed regulatory body, the FSA, has managed through further ineptitude to dig itself (as if that could be possible) further into the mire.

Having steadfastly refused to publish its report into RBS (the report that exonerated the directors and company of any wrongdoing), it has now agreed (under intense pressure) to publish a heavily redacted version of the report.

Good enough?

Not really:

1 The report will be heavily redacted.

2 It won't be published until March 2011.

The FSA really doesn't get it, and is demonstrating why it has become an irrelevancy.

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