FSA backs new compliance standard

The British Standards Institution (BSI) says the standard is the first of its kind and will help firms to manage regulatory risks and demonstrate to consumers they are improving governance and accountability procedures. It developed BS 8453 after detailed consultations and contributions from organisations such as the Association of Private Client Investment Managers and Stockbrokers, the Chartered Institute for Securities & Investment and compliance specialists Thomson Reuters GRC and PwC. Sheila Nicoll, director of conduct policy at the FSA, says: "The FSA recognizes the importance ...