'Key individuals' targeted in FSA ethics code

In its Competence and Ethics consultation paper published today the regulator said it will apply its ethical code to all sectors of the industry and that limiting the code to certain individuals would be "misleading". "Ethics apply at all levels, so attempts to ring fence certain behaviours or individuals may give a misleading impression that others do not have to follow ethical behaviours, which would be an unsatisfactory outcome," it said. The regulator also said its APER code of regulatory practice will focus on key individuals within firms. "The impact of this will result in mo...