The FSA has warned smaller firms to expect greater individual intervention where serious failings are found, as part of its intensive supervision.
Speaking at the City and Financial Intensive Supervision Conference, FSA managing director of supervision John Pain said the regulator's intensive supervision applied to all 20,000 firms it oversees. To continue to deliver and "fully embed our intensive approach" the FSA needs to "continue to deliver a cultural shift where supervisors have a much tougher role...
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