FSA applications fail to reach expectations
The Financial Services Authority is said to be expecting a drastically lower-than-expected number of...
The Financial Services Authority is said to be expecting a drastically lower-than-expected number of applications from brokers by the 13 July deadline, beyond which it can not guarantee applicants' authorisation by 14 January 2005.
A source close to the FSA said that concern was growing as current numbers are 50% lower than the regulator had expected by this point.
The FSA previously stated it would receive around 12 900 applications in total but has so far received only around 5000.
FSA spokesman
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