Throw out the rulebook
Larger firms, keen to take a more proactive role in shaping their business practices, have welcomed the Financial Services Authority's shift towards principles-based regulation. However, smaller firms may still lack the resources to confidently interpret the FSA's intentions, as Kirstie Redford reports
Getting to grips with all 9000 pages of the Financial Services Authority's current rulebook is an arduous task even for the most enthusiastic compliance officer.
The regulator's move towards a more
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