Moonstone Monitor: FSB Newsletter Number Five

We noticed the absence of this newsletter when number six suddenly appeared, and queried it with the FSB. The missing link has now been re-established, but if you want to read it, you can download a copy here.

The newsletter contains extremely valuable information, particularly for what they term "small" FSPs: those with only one
Key Individual and less than five representatives. The contents provide clear guidelines as to what your obligations to the FSB are in terms of three aspects:

• Annual FSB Returns
• The submission of financial statements and
• Levies

It also provides clarity on the very important issue of business continuity, particularly with regards to how the format of your business (sole proprietor, CC or company) determines what provision you have to make for your business to continue in the unwelcome event of your demise or incapacity to continue with the business.

There is also a short section on the lack of formal complaints procedures in "small" FSPs. It would appear that most see complaints as something they will handle if it crops up.

This reminds me of the politician who was asked how he would handle a certain problem should it arise in his constituency, to which he replied:

"I'll double cross that bridge when I get there."