The site claims to have improved navigation and developed an intuitive search facility to make it quicker and easier for users to find the information they need. It also aims to simplify the site for firms to provide information to the FSA, reducing paperwork and meaning less time spent on regulatory reporting.
The completion of the project meets the first milestone in the FSA’s business plan for 2005/6 with the aim of improving business capability and effectiveness.
David Kenmir, managing director of regulatory services at the FSA, said: “The whole website has been redesigned with the user in mind. We want to make it easier for firms and consumers to help themselves and to reduce the time and effort which firms, especially small firms, need to spend dealing with us. On average the website gets 26,000 visits a day. It is a crucial tool for firms and we have put significant resource behind listening and responding to feedback to make this material more accessible.”
Both firms and trade associations contributed to the development of the new site, providing guidance on what was needed and constructive comment on the work as it progressed.
Frank Thurlby, head of compliance at Genesis Home Loans, said: “I use the site on a daily basis. The old website was directed more towards the professional, now it seems more consumer friendly. It gives clear, concise information, and once I get used to the navigation it looks like it will be an improvement.”
Rod Murdison, proprietor of Murdison and Browning, said: “I’ve used it once to check my details. I think that’s about it.”
The FSA has also announced the scope, form and timing of its study of the costs of regulation.
The study will be conducted in partnership with the Independent Financial Services Practitioner Panel and will pay particular attention to the impact of costs on small firms and on wholesale firms operating in internationally competitive markets.
