SFO chief: increase pay to help competition with other regulators

well boo f*%king hoo!

Maybe they should cut the salaries at the FSA then. Simples.

They want to recruit Fraud specialists then..................

Absolutely spot on Sean. Proof if it were needed, that FSA packages are ecessive and far too generous, and always have been.

The biggest fraud is the amount of bonuses paid to state quangomeisters

Sean, Gerry and Anitaki have said it all. FSA pay is really quite an embarrasment to say the least. They are paid far too much for the work that they do and to expect bonuses on top..........................well !!!!!

1. Cut FSA pay, do NOT increase SFO pay. It's like paying bribes to be honest. Whatever happened to a vocation?

2. Move as many staff as possible at the FSA and all the other organisations which do not need to be in London OUT of london to lower cost areas.

Proof, if any was needed, that FSA salaries are far too high and that the Canary Wharf juggernaut is, in fact, a lovely gravy train for those fortunate enough to be invited aboard. But the government doesn't care a jot, because the FSA's huge salaries are paid not from the public purse but by us poor saps out here. A public sector quango (fsa.gov.uk) with private sector funding (pay up or pack up). That really is a good deal if you're in the club.

The SFO personel should pe paid the same as the average policeman. After all, they are only cops in suits. The FSA should be disbanded completely and the whole lot put out to grass. A spell on the dole would do them a whole lot of good. Might even bring them into the real world.

Think about it 450 multiplied by an average of about £100,000 equals?

I suspect SFO staff are paid a similar amount to a Policeman. To some extent you coudl argue that as the physical risk would be lower for SFO staff compared to Police, the pay should be lower. I would however argue that pay should reflect a combination of skills required and personal risk and hence they probably should be on a par. On this basis, FSA staff pay should be significantly BELOW that of a staff member of the SFO and/or the Police as the skills required for many junior staff will be lower than that of someone from the SFO and there is no risk premium required unlike for Police.

Mind you, the way the FSA is peeing off much of the public, they might need a risk premium soon! It is questionable who will be treated more like outlaws, the IFA who has had their rights under teh law removed (outlaw), or the FSA and it's staff who believe they have put themselves outside the reach of the law (outlaw).

Can't have it both ways. FSA does have to compete for staff with institutions that pay significant salaries and bonuses (rightly or wrongly) if you want regulators who have some idea of what they are doing (and yes I know that will be seen as an oxymoron!)