Deloitte weighs up FSA's work on principles-based regulation
Deloitte has published a paper assessing the work of the UK Financial Services Authority (FSA) to move towards principles-based regulation, in which it argues that while the organisation is committed to change and understands the nature of the challenge it faces, it still has some areas that it needs to improve.
Evidence of the serious intent of the FSA can be seen in its setting aside a budget of £50 million over the next three years to support the initiative on principles-based regulation, in particular by improving the effectiveness of its staff and its knowledge-management systems, says the report.
The idea is not for wholesale change, but that a “rebalancing” is needed. The current 194 words in the
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