During the Biba forum on FSA regulation, chair and host BBC journalist Adrian Childs asked a sole trader in the audience how he felt about the proposed regulatory rules.

The broker said he wanted to know how the FSA would handle a business like his, where he was "a one-man band, with no employees and only responsible to myself".

Childs quipped: "So have you any idea who your compliance officer will be?"

To much laughter, the broker replied: "Hmm, Patsy Kensit."