CP142 responses in - FSA selects non-prescriptive approach

Professional Adviser
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Product providers and other financial services companies will not have to tick boxes to meet regulat...

Product providers and other financial services companies will not have to tick boxes to meet regulatory approval of their plans to meet business continuity risk, according to a statement from the FSA today. The regulator has outlined its approach in a policy statement relating to the responses it has received on CP142. It says that the responses indicate it is already doing enough to ensure risk is controlled without needing to publish stricter rules. Instead, the FSA will "keep to our existing approach and not offer further guidance which would prove too prescriptive f...

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