Financial reform set to raise the bar for UK risk managers

LONDON – UK government proposals to boost the defences of the country’s financial sector will give more powers to regulators and consumers, and toughen requirements imposed on firms. The Financial Services Authority (FSA) will also be given greater powers to sanction firms that fail to comply with the new rules

The Financial Services Bill, introduced in November, will allow consumers to collectively challenge banks in courts, and financial firms will need to develop ‘living wills’ to deal with p

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