FSA publishes draft of new prudential standards

The Financial Services Authority published its draft of new prudential standards this week which aim to ensure that the firms it regulates are financially sound. It includes specifying standards covering risk mitigation and other related requirements. It proposes that requirement on capital and related systems and controls be set as far as possible by risk factor rather than by the sector from which the firm comes. So standards will be organised by market, credit, operational, insurance and group risk and not according to whether the firm is a bank, an insurance company or an investm...