Wednesday, June 16, 2010

Slowly the fraud is being revealed

3 more mortgage brokers banned

Good job we still have the FSA

Posted by chrisch @ 12:33 PM (1034 views)
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3 thoughts on “Slowly the fraud is being revealed

  • “Slowly the fraud is being revealed” – I presume you mean this !

    FSA splashed out £638,500 on tea and biscuits
    Thursday 10th June 2010

    The FSA spent £638,500 last year on coffee, tea and biscuits plus other hospitality for meetings held at its Canary Wharf offices.

    The information has come to light after yet another Freedom of Information request.

    A statement from the FSA said that it provides a hospitality service for meetings at its premises: “This can range from providing tea and coffee to hosting breakfast or lunch meetings, through to more formal dinners and catering for seminars.

    “The FSA hosts thousands of such meetings a year, with a wide range of external guests.”

    The FSA, which spent £40,230 on external hospitality in 2009, has recently announced fee inceases, to the fury of the financial services community, who entirely pay for the regulator to be funded. Next year, its bill for funding will be £454.7m.

    Three years ago, in July 2007, the leaving party for former FSA boss John Tiner cost £21,100.

    Last week’s story on Introducer Today drew angry comments from readers, after a Freedom of Information request revealed that over 200 FSA staff get more than the £142,500 that David Cameron earns as prime minister.

    Other Freedom of Information requests have revealed that the FSA spent £16m on consultants last year, £163,000 on art for its offices, and £150,000 on staff who complained they had been bullied.

    SOURCE (FT, Citywire etc.. all covering this)

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  • ‘Plus ca change,moins ca change.’

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  • No Jack I don’t mean the (defunct) FSA spending on biscuits which is profligate I mean criminal fraud by the scum that are the finance industry. Buying biscuits is not a crime.

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