04/11/2011 - Shock News Turner Does Not Want Accountability

Shock News Turner Does Not Want AccountabilityShock News Turner Does Not Want Accountability.

According to the Financial Services Authority (FSA) chairman Adair Turner, any changes to make regulators and their staff more legally accountable for their decisions would undermine judgment-based regulation and also place a cost burden on the industry.

Any suits against the FSA which result in payments to particular groups would result in other groups of people in the industry having a levy placed upon them as the FSA is an institution and has no money and no shareholders.