Financial Services Authority - Annual Report (2009/10)
The UK Financial Services Authority's (FSA) 2009 Annual Report, published last Thursday, discussed the radically changed approach taken by the regulator over the last year in prudential supervision.
Hector Sants, the chief executive at the FSA, said: "The principal achievement of the last 12 months has been the completion of our reform programme, which has radically changed both our supervisory philosophy and the capability to deliver it."
Sants outlined four main areas of reform. They were:
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