The Financial Services Authority (FSA) has today published a discussion paper on improving the regulator's transparency. Here we break down the five key changes the incoming Financial Conduct Authority (FCA) wants to make.
1. Supervision The FSA is proposing to publish anonymous aggregated information on how many planned and unannounced supervisory visits have taken place across different sectors, mapped to the firm classification, and the total cost of these. It also wants to publish how many variations in permissions have occurred and in which sectors and how permissions have been varied or the type of requirements imposed. 2. Whistleblowing The FSA wants to provide more information to those who whistleblow on bad practice in the industry. This could include saying more about what the regulator ha...
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