UK Treasury releases summary of responses to transposition guidelines of the CRD

The task of transposing the CRD in the UK is divided between the Treasury and the Financial Services Authority (FSA) in the UK. The Treasury is responsible for transposing legislation needed to grant new duties to the FSA regarding the CRD. Firms responding to the call were mostly content with the Treasury’s proposals, though they cited a need for the FSA to have flexibility where there has been a major structural change to a group and to request a further application, that is, a provision a