Very telling snippet picked out by one of the IFA magazines covering Hector Sants's comments to the Treasury Select Committee that the FSA are struggling to recruit for a 200-strong Risk team, with an agency cited as saying they were around 50% off industry levels. If they can just wait for the Solvency II goldrush to subside, there would be plenty of candidates, but if it keeps getting extended, you'll never get anyone!
Joking aside, the increasing staff turnover, extension to Solvency II, and one eye on the future carve up into FCA and PRA, the case for spending some of this special levy money on some high-end talent must be close at hand - they have certainly priced it in for post-2014!
An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
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