FSA criticised on CRD proposals

The UK Financial Services Authority's (FSA) proposed guidelines for the implementation of Basel II in the UK are confused, oblique and imprecise, and should be rewritten to include more guidance and interpretation, according to a release from five industry bodies.

The joint response, released last month, follows publication of the FSA's February consultation paper on the implementation of the capital requirements directive (CRD) - the EU legislation that sets the legal framework for the

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