Will risk jobs in London be impacted by FSA proposals?

The Financial Services Authority (FSA) is calling for a nationwide political and social debate on the issue of credit availability in the financial services sector.

In news that may interest those on the lookout for risk jobs in London, the regulator is in particular focussing on how much credit should be available within the home loans sector, noting that a system that was successful before the recession may not work as well in this time of austerity.

Chairman of the watchdog Lord Turner addressed the British Bankers'' Association and said that previous decisions attempted to strike an equilibrium between consumer choice and protection with the responsibility of both providers and their customers.

"We are signalling today a significant shift away from that approach; but how much we shift is not a purely technical issue which can be left to technicians; it is a social and political choice which should merit extensive debate," he explained.

Earlier in the week, the FSA outlined its plans to ensure that all mortgages undergo assessment to determine whether or not they are affordable to the consumer in an effort to encourage responsible lending.