We are fortunate that most of what we do is done at arms-length.
Much of the work is done by correspondence and by phone. We are already are using Skype far more than we usually do.
Parliament is still in action and we were at Portcullis House twice last week. It’s very unlikely that Parliament will close down - not least to give the rest of us the illusion that someone is in charge.
We are busy creating a new All-Party Parliament Group on Better Financial Services which will pick up all the examples of regulatory failure. Connaught (£135m), London Capital & Financial Services (£237m), Harlequin Property (£400m+) to name just a few.
All have lessons that must be learnt, not least by regulators. This will allow us to create one group rather than a load of small groups. The concentration of this group must be on consumer detriment which is hardly a difficult task.
Last week, Andrew Bailey was approved to be Governor of the Bank of England by the Treasury Select Committee, He didn’t escape untouched, however.
The TSC has decided to investigate the whole of regulation. We have already been contacted by Committee members and will be helping them in this task.
We have decided to close the West Wycombe Rd office. We can move the whole administration as we have thought and planned for this. Our membership system and all back-office functions are virtual anyway.
We are pressing on delivering everything we can. Find us on https://www.ifaa.co.uk/
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