Government promises more competitive regulatory structure
Economic Secretary to the Treasury, Ed Balls, and Financial Services Authority Chief Executive, John Tiner, today announced the UK's proposals to change the approach to insurance supervision which aims to minimise the administrative burden on insurance groups operating in the EU.
The proposals are set out in a joint Treasury-FSA discussion paper on supervision of insurers where they are organised as a group with a parent and subsidiary companies.
This issue is key to the
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