FSA enforcement review seeks input

An issues paper published on Friday by FSA director David Strachan sets out the legislation under which the FSA must operate - including the warning notice, decision notice and tribunal framework – but points the FSA has no plans to change primary legislation as a result of the review, albeit there is still “scope for flexibility” in the current models and processes. In particular, the FSA points out the decision-making process on enforcement action has to be fair and be seen to be fair, efficient and effective, so the consultation is now to see whether this assertion is still valid. ...