Small firms and FSA

Smaller companies' support to the FSA has decreased over the last two years. The main reasons are the continued high cost of regulation and a confusion over FSA's strategic and policy work. The FSA's recent announcement that it will switch to a principle-based rulebook has increased smaller business' fears. Bigger companies are able to pay for consultants to advise on regulations but smaller ones will have to spend a huge amount of their valuable time on getting to grips with the new changes.