Ever feel life’s toying with you like a cat with a wounded mouse?
UK insurance brokers had been looking forward to the FSA’s promised review of the infamous fee-hiking Financial Services Compensation Scheme (FSCS) like a kid counts down to Christmas.
But now, like Garry Glitter’s comeback tour, the FSA’s review has been “indefinitely postponed.” So, like Neville Chamberlain back from Munich, BIBA has seen hopes of triumph in its fair fees campaign ridden over roughshod.
“There have been a number of dependencies throughout this review,” the FSA told BIBA, like some mealy-mouthed faceless bureaucrat, “including European proposals and changes to the regulatory landscape with the creation of the PRA and CPMA, which may have potential consequences for the structure and funding of the FSCS – and with this in mind, we believe it would not be appropriate to consult on funding arrangements at this time, as we originally planned.”
BIBA person Steve White says “The unfairness of the current FSCS fu**ing model continues to be BIBA’s number one lobbying issue” and, like Mary Whitehouse following the latest fruity Play for Today, he’s busy organising BIBA members to write to their MPs in protest just as soon as the FSA consultation paper is issued.
“This will be the most appropriate time and way to get our key messages on this issue to the key influencers,” he explained like some (key-obsessed) mealy-mouthed faceless bureaucrat.