Can the FSA learn a lesson from Fifa?

Well, no. Perhaps not. The idea of one of the most controversial organisations in sporting history teaching one of the most incompetent regulators in the world a thing or two is a bizarre suggestion to say the least.

But bear with me if you will. Fifa has been busy gathering statistics from its TMS initiative – the Transfer Match System, where all football transfers from around the world are recorded in a bid to clear up murky goings on. One particular area of concern is the movement of young players amongst concerns about child trafficking.

So what did they do? Making it illegal would take years and would arguably be against the interest of genuine moves. So they made the paperwork harder instead.

Mark Goddard, the general manager of TMS, was quoted as saying: “Clubs tells us they would rather keep players in the country until they’re 18 because it’s a document-heavy process. That was the intention of the regulation.”

It strikes me, however, that the FSA has perhaps achieved the complete opposite with financial services regulation. It is easier to borrow than to save, it’s easier to buy PPI than proper income protection, easier to get a credit card than an ISA, and so on. (blog continues below)

And not just for consumers. It often also seems both easier and cheaper to set a business up to sell crap than it is to sell the good stuff.

Instead of over regulating the worst areas, the best appear to be the victim of endless red tape, while the chancers continue to find loopholes because they can.

Kevin Carr is the chief executive of the Protection Review.