FSA warns stringent maintenance of valuation and product controls needed
‘Dear CEO’ letter urges financial services firms to improve their valuation control policies and processes
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
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