Two FSA's - Both Ineffective

 BBC Newswatch recently reported how BBC News had confused two different FSA logos. Last week they mistakenly put up the Financial Authority Service logo on our screens instead of the intended Food Standards Agency.  Probably a fresh-faced researcher typed in ‘FSA’ into ‘Google Images’ and copied and pasted the first image he\she came across. An easy mistake maybe.

However, there are, perhaps, more similarities between the two UK Government regulators than you might, at first think.

The Financial Authority Service, set up as the City Watchdog failed to curb the casino banking of companies like RBS and Northern Rock. We might naively think The FSA’s primary aim would be to protect the public interest. Instead they were concerned  to regulate with  a ‘light touch’ to smooth the way for the banks and cooperate rather than confront.

Now we have another FSA. This one, we fondly imagine, is set up to firmly regulate the food industry and make sure that the food we eat is safe and is what it says on the label. But no: it turns out they don’t have any power.  They don’t actually test any food. They don’t investigate. They don’t fine or name and shame.  They see their role as co-operating with the food industry.

Two FSA’s: both alike in dignity. Two FSA’s: both popularly thought of as defending the interests of the public but fall a bit short.

Wouldn’t it be nice if we had regulators who were prepared to regulate?