FSA sticks with outsourcing guidance

LONDON -- The Financial Services Authority (FSA) should continue issuing guidance on outsourcing rather than rules, according to the majority of respondents to the UK regulator's July 2002 consultation paper on operational risk. Feedback from fifty financial institutions including Citigroup, JP Morgan and Lloyds TSB was released in late March and showed that most companies believe the outsourcing policies laid out in the consultation paper are appropriate.

However, some respondents requested

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