The future of UK regulation
In this speech, Dan Waters, director of Retail Policy at the Financial Services Authority, provides an overview of the main principles and applications of the authority's much-praised "principles-based" supervision.
Waters suggests that principle-based regulation has been highly successful and needs to be expanded to keep up with market developments.
"The move towards a more principles-based and outcome-focused regulatory regime is, in our opinion, an absolute 'must'", says Waters,
"The proposed
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