FSA bans Cru co-founder

There's something that doesn't add up here. Looking at FSA Register it would appear that SD was CF1 Director of SDAM from 2001-2010 & CF1 Director of CRU from 2008-2009 and held various other functions CF10, CF11, CF8 & CF30. One must assume that FSA checked, monitored, authorised this gentleman's various functions and others did the same. TMcD is quoted as suggesting SD "failed to understand or act upon his personal duty......etc" but what this article doesn't examine is how the FSA put this individual in a position where clear conflicts of interests were forthcoming. Some further explanation is required. For full transparency I think many who have been effected by CRU deserve a fuller explanation as to how the regulator failed in its mission.

Has anyone at Citywire done an analysis across the FSA Register for similar potential conflicts?

Whilst this is being fathomed by Citywire I wonder if anyone has considered how many non-RDR (Level 3 & lower) compliant people are currently working in 'Wealth' firms who have management functions over those with Level 4, 5 & 6 credentials? In other words these executives (including many in compliance) are monitoring, managing and massaging these RDR compliant individuals and yet don't have the requisite examinations and sometimes the relevant experience pertaining to what they're looking at. And taking this to 'n'th degree I wonder how many at the new regulator are Level 4, 5 or 6 too.

Well I remember attending a TC conference hosted by the FSA where they spoke about their new plan to ensure that all FSA staff were trained and deemed competent for their roles. I dont think anything improved from what I can see which explains why they continue to make a mockery of the city.

I second that - how many staff at the FSA are 'RDR ready?'