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  It is everything to do with the FSA. They as the regulator have massive powers over financial institutions, rightly or wrongly. They have not always exercise that power well.
  
  Are you suggesting Tom that local 'small' banking enterprises should not be regulated by the FSA?
  
  I would have to disagree. They need proper regulation as much as the big banks. This is indeed people we are talking about, it is people's money and it could easily be lost if there is insufficient capital adequacy. This regulation is also excessively expensive, as I know only too well and I certainly do not want the costs associated with the failure of small banking enterprises to be added to my costs as these are quite enough anyway.

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