Firms given seven months to adhere to FSA's new regime

Companies have been given seven months to switch over to the FSA's new conduct of business rules, which come into effect from midnight on November 30, 2001. Most firms will have until 30th June 2002 until they have to adhere to the new regime. The new rules apply to all regulated firms and govern how firms interact with their customers. The FSA has supplied transitional provisions to help firms achieve a smooth transfer from the previous regulatory regimes to its new one. Firms will not have to reissue documents relating to their customers. Michael Folger, Director, Conduct of B...