MPs urge new regulator to avoid FSA's 'failures'

It seems that FCA is heading in exactly the same disastrous direction as its predecessor. If the government or TSC really want to protect investors they should consider halting RDR and investigate the outrageous handling of experienced personnel viz-a-viz the atrocious pidgeon holing that has taken place these last few years leaving many with loaded guns pointed at their heads. A thorough investigation needs to occur to determine who has benefited from the unlevel playing field that has been created. Putting '000s of IFA's, stockbrokers et al out to grass wins no government any friends. The notion that the public will benefit through RDR is purile and untrue. Already millions are no longer getting adequate advice and quite why those that can afford it should be paying for the compliance and capital adjustments (FSCS, Basle III etc) is quite beyond me. Market history has taught us all one thing; that is that answers to market issues cannot be learned from a book or through examination and yet this is exactly what RDR delivers.Those with adequate pedigree should be given the respect that their age and experience deserve. Unless a full investigation of the Levelling debacle is considered the integrity of the City may well be in jeopardy and irreversible. It has been quite clear for over a decade that boutique businesses in PC, IM, CF, CB etc have been treated unfairly sometimes with utter contempt by regulators and there seems little light at the end of the tunnel. Acorns are being crushed through RDR (& more unnecessary regulation) and yet the oak trees that have spawned the credit crisis problems are being given a new breath of fresh air. Time to champion the little man!