UK stresses senior management role for electronic-commerce risks


LONDON – UK regulators stressed senior management’s responsibility for managing the risks of electronic commerce (e-commerce) in the financial services industry in a June discussion paper*.

The Financial Services Authority (FSA), the UK’s principal financial watchdog, said its objective was to
deliver a regulatory framework that allowed the potential benefits of e-commerce for firms and consumers to be

The FSA said it had three key regulatory goals. The first was to ensure

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