FSA may remove T&C rules for retail firms

The change forms part of the FSA’s move towards a more principles-based approach to regulation and will occur when the Markets in Financial Instruments Directive (MiFID) is implemented in November 2007. Robin Gordon-Walker, press officer at the FSA, says a further review of the regime will take place this year and the regulator might extend the removal of the rules to include retail firms. But he adds: “At present we don’t feel we can extend the concession to retail businesses as retail customers do not have the same expertise in financial markets as wholesale customers and therefore ...