Prudential CEO Tidjane Thiam today told the FSA the UK will not benefit from a new regulator which is overly-prescriptive and stunts financial services.
At an event in London on the philosophy of the Financial Conduct Authority (FCA) - one of the organisations set to replace the FSA - Thiam said he was generally "very encouraged" by its planned approach, which will be to intervene earlier on both the product and sales sides where there is a threat to consumers. However, the head of multi-national business warned a panel of senior FSA staff to tread carefully on plans to increase intervention around the design of products and their availability to consumers. "Firms in our sector want to be allowed to design products in a flexible and i...
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