FSA deemed world leader in regulation
LONDON – The UK's Financial Services Authority (FSA) leads the field of European and international regulatory practices with its cutting edge principles-based regulation, according to a report from the UK's National Audit Office (NAO).
The overall finding of the NAO report was that the FSA is a highly regarded institution, both at home and abroad, and that its risk-based and principle-based approach to regulation is increasingly seen as a model for other regulators to follow.
The report, commissioned by the UK Treasury, focused on assessing the economy, efficiency and effectiveness of the FSA and covered five areas: performance
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