Former Albion defender Peter Smith has warned young players could be exploited by dodgy agents after FIFA relaxed the regulations.

The global licensing system for agents implemented by FIFA was abandoned in April.

Under the new system of supervision by individual countries someone in England with an ‘impeccable reputation’ can pay £500 to register with the FA as an intermediary.

Smith, who lists Albion favourite Inigo Calderon and retired England and Manchester United star Rio Ferdinand among his clients, fears the system is “opening the floodgates” to naive or bad agents.

The Seagulls’ ex-full-back, issuing the warning on the day the summer transfer window officially opens, told The Argus: “It needs to be regulated more, not less.

“Football is a billion pound business now. As a colleague said to me, it’s like giving the keys to a guy for a black cab without the knowledge and letting them all loose. People can be picked up and driven anywhere.

“There are a lot more agents about and this is opening the floodgates to not necessarily bad agents but people that don’t know the industry, which in turn will bring bad agents just having a go.”

More on this story in The Argus today.