Principles-based regimes dominate at the FSA

In an interim report published this week, the Financial Services Authority (FSA) announced that it would call for a more principles-based approach to insurance conduct of business regulation. An FSA review has found that the general insurance markets work well. The FSA is therefore seeking to remove any requirements for firms beyond the minimum EU Directive requirements.
FSA chief executive John Tiner, at the FSA's Insurance Sector Conference held in London, said: "There is now a strong case

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