FSA warns stringent maintenance of valuation and product controls needed

Editor's blog

Following the recent fine imposed on Credit Suisse, the UK Financial Services Authority (FSA) has issued a ‘Dear CEO’ letter, warning firms to maintain their valuation and product controls more stringently, particularly as valuation control processes will continue to be a focus area for the FSA. It intends to conduct a number of visits to banks and investment firms with material trading operations in the first half of 2009 to evaluate progress in the application of its “prudent valuation

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