FSA Industry Guidance framework begins

It is considered an important step in the move towards Principles-Based Regulation and through it, trade associations, professional bodies and firms will be able to seek formal confirmation for the guidance they generate to help their members understand and meet the FSA's regulatory requirements. FSA director of strategy and risk, Verena Ross said: “Trade Associations and others have for many years provided guidance on regulatory matters for their members. “This new formalised system involving FSA confirmation will contribute towards the move to Principles-Based Regulation, allowing us to...