The Consumer Protection and Markets Authority (CPMA) will follow the same strategy as the Labour-built FSA it is set to replace, the Treasury says today.
David Cameron's cabinet has also confirmed previous announcements the new body will continue with FSA initiatives including the RDR and Mortgage Market Review. In a consultation paper published today, the Treasury says the new regulator will "adopt" the FSA's Retail Conduct of Business Strategy of consumer protection "involving early detection and intervention through intensive supervision". It is the same approach announced in March by then-CEO of the FSA, Hector Sants. Today's consultation proposes the CPMA "will build on the progress recently made by the FSA towards a more inter...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
