The Financial Services Authority (FSA) has appointed auditing firm Deloitte to perform research among regulated firms as part of an effort to approximate the real costs of financial regulation.
The city watchdog is working in conjunction with the Idependent Financial Services Practitioner Panel and has set about a project to measure the full cost of compliance with regulation under the Financial Services and Markets Act. The Fsa also aims to identify costs incurred solely as a result of the Act along with firms still incurring a charge even without such regulation. Initial procedures will analyse the total and incremental compliance costs of regulation for small and large firms in three regulated sectors: Investment banking – Corporate Finance advice Investment and ...
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