The Landsbanki Guernsey Depositors Action Group (LGDAG) has welcomed the Treasury Committee's call for better regulatory communication between the Crown Dependencies and the FSA.
The committee says both Guernsey and the Isle of Man expressed concern over the level of the FSA's communications with them during the crisis. "We note with concern the suggestion that the paucity of information provided by the FSA may have impeded the ability of the regulators in the Crown Dependencies to safeguard their own financial systems," reads the report. The Treasury Committee recommends the FSA "reviews its existing powers and strategy for dealing with other jurisdictions," a call backed by the LGDAG. Matthew Dorman, spokesman for LGDAG, says: "I hope we see the evidence of ...
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