FSA Speech - Principles-based regulation - moving from theory to practice
In a recent speech by Clive Briault, managing director, retail markets, FSA, at the ABI 2007 Conference, Mr. Briault covered four main areas under the above mentioned heading, 1) How a more principles-based approach should help the FSA to achieve their desired outcomes more effectively, 2) How they are changing the types of guidance that firms receive on their Principles, 3) Investing in their people; and 4) Treating Customers Fairly.
From firms the FSA want to see a stronger focus on the outcomes that really matter for consumers. They want senior management to develop a greater understanding of how the Principles and their other
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