FSA urged to take direct action against liquidity swap ‘malpractice’

The Financial Services Authority's (FSA) proposals for new regulations on liquidity swap transactions remain unclear and would fail to limit risk within the financial markets, according to the British Bankers' Association (BBA).

The association has called on the UK regulator to take a more focused approach that targets those responsible of 'malpractice'.

The FSA is consulting on proposals that insurers would need to notify the authority before executing liquidity swap transactions and that firms

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