UK regulators developing risk-based rules for insurance firms

LONDON -- UK regulators will be focusing on four key areas in developing Basle II-type, risk-based regulation for the British insurance sector, the scene of major operational disasters in the past year, the Financial Services Authority (FSA) said in late November.

The FSA, now the UK’s single financial services regulator and the world’s most powerful financial watchdog, said it would examine how far it could rely on management competence in insurance companies.

The three other areas coming under

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