A broker contacted me recently complaining about GISC. Apparently it had written to him requiring him the completion of a desk-based monitoring report - essentially a compliance self-assessment - and to do so within a couple of weeks.

His gripe was that it was unreasonable for GISC to ask this of him at a time when he was busy dealing with FSA matters.

Of course, GISC has every right to carry out regulatory oversight of its members up to January 2005 when the FSA takes over. But when questioned about the difficult timing of its request, it showed itself to be flexible.

Brokers, a spokeswoman said, who felt that FSA-related pressures meant they could not meet any deadlines set by GISC could be given some leeway. So, if you have any problems dealing with GISC's regulatory activities at the moment, contact it and make your case.

Finally, do email me when you have received your ‘minded to authorise' letter. The list should be on the website this week.