FSA focuseson delayed reformation

July was certainly an important month for the Financial Services Authority (FSA), which has surprised the industry by remaining busy during the usual summer lull. Policy reforms on audit requirements and the release of the Markets in Financial Instruments Directive (MiFID) consultation paper are just two areas the FSA focused on last month. In a move that has no doubt been welcomed by UK-based advisers, the FSA has said it would scrap its audit requirements for financial advisers and appointed representatives (AR) with a turnover of £5.6m or less by the end of the year. This will remove...