The Financial Services Authority is planning to take a more active role in the future over the development of new product design projects that require heavy public financial investment.
The Financial Services Authority is the governing body for the financial sector. Although they have had their hands full with dealing with the list of things that have evolved since the start of the global credit crunch and bankers scandal, and although they normally take a very back seat when it comes to matters that fall outside their realm, it appears that the increase in new product design projects has caused the agency to get involved.
Lord Turner who is the FSA Chairman expressed his concern at how product design issues in the past had been dealt with. “We’ve had a whole series of customer complaints and lots of settlements and money paid out. That isn’t good for consumers or the industry.”
The series, which offered one lucky designer the chance to spend a 6 month stint at Philippe Starck’s design school in Paris involved 12 British designers. Ilsa won over Starck with her innovative walking aid – Flo. Following her time with the famous French designer, Parry returned to Liverpool and established her own design agency – Rethinkthings. Her new product is being stocked by Firebox.
Companies in the UK know that in many areas, the quality of China’s output has increased dramatically over recent years. With this in mind, manufacturing facilities in China can take on the whole spectrum of manufacturing, from the simplest household items to high technology items such as digital cameras and flat screen TVs.
