The Financial Services Authority is proposing to make changes to the enforcement and decision making sections of its handbook, claiming it will make the material shorter and simpler.
The FSA’s latest consultation paper – Review of the enforcement and decision making manuals – proposes to delete the enforcement and decision making manuals and replace them with a new manual, entitled the Decision procedure and penalties manual (DEPP). In addition, it plans to produce a new regulatory guide – the Enforcement guide – which will exist separately from the handbook. The FSA claims the changes will remove around 400 pages in the current handbook to be replaced with around 175 pages. The DEPP will be confined to a description of the FSA’s procedures for taking statutory not...
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