Maybe I was asleep or trying to avoid the death of Winston Thatcher but I came across the new FCA's website.
I thought I was on some kids school project wordpress website until I saw the news link about investigating the failings of the Royal Bank of Shite and then it made sense. The old FSA website looked a bit too flash and nobody wants a regulator flashing off its wealth. So they must have used some interns who don't know what a websafe color is (pink maroon purple?) and have done a Windows. A new layer on top of the old bloat ware.
But this is dull for austerity is everywhere. But what is interesting is the website is no longer a .gov. The FCA is a regulator that is a .org. The sec is sec.gov. It smacks of enforcement.
The FCA (and you still have to type in www) is www.fca.org.uk. Now lots of periods / full stops on my Z10 blackberry isn't easy. But that is also dull.
Here is wiki's definition:
"The domain extension was originally created for non-profits, but today it is commonly used by schools, open-source projects, communities, and for-profit entities. The number of registered .org domains have increased from less than one million in the 1990s, to ten million as of June, 2012."
And I was told today if you want to set up an FCA regulated entity it will take between 8 and 10 months.
Wow. The UK has returned back to the 1970s when you had to go on a waiting list to get a phone from British Telecom. Until Thatcher came along and sorted that mess out.
But like the cyclical markets, socialism comes and goes. Now that is more interesting. My portfolio has a long position in First Trust China AlphaDEX. A communist play with the ticker FCA.
How ironic. How random.
Death to the hybrid (bloomberg)
Fintag wrong about the new logo (fintag)
Banker drops his trousers (reuters)
Accountants for hire (reuters)
FCA to put pictures on its website of non white people when it sorts out which skin color goes with maroon.