Flicking through the weekend papers, Backchat came upon an advert for the FSA. It was reminding the likes of vets, car dealers and furniture restorers that come 2005 they will need to be regulated if they are involved in selling insurance.

It's clearly a good move given the secondary market's shockingly poor awareness of their forthcoming regulatory burden.

But is it too little too late? The application deadline is only a month and half away. An ad campaign this time last year might have been better.