Friendly persuasion
Georgina Philippou, one of the heads of the UK Financial Services Authority's enforcement division, tells Nick Kochan that treating customers fairly is at the forefront of principles-based regulation
The UK Financial Services Authority (FSA)'s principal purpose is to maintain clean and orderly markets and ensure that consumers get a fair deal. The need to enforce the rules occurs when the regulated community does not play ball. The FSA's enforcement division prefers to stay out of the public arena, only attracting attention when it acts against a major institution, or wants to voice a concern about some aspect of behaviour by the financial community.
Those running the enforcement function
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