The Financial Services Authority is considering adding "clear examples" of key Conduct of Business rules affecting smaller financial services firms, as one of its proposals to reform the COB sourcebook.
Details of a consultation paper issued yesterday by the FSA reveal one of the City watchdog’s priorities is to ease the regulatory burden for smaller firms, so it is looking providing supporting material to give smaller companies such as IFAs and intermediaries “clear examples of how they can comply with our requirements in a proportionate way”. The regulatory body is concerned some of its proposals which are designed to apply a risk-based approach to the COB - by removing specific rules and placing more emphasis on high level responsibility – may well reduce the burden of compliance on ...
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