UK FSA writes AMA strategy anew
An official from the UK's Financial Services Authority (FSA) sketched in some details of the regulator's approach to the operational risk portions of Basel II implementation in that country at an operational risk conference held in early July in London.
Michael Folger, director of the wholesale and prudential policy division of the FSA, started his presentation by saying that the FSA’s implementation of the EU’s Capital Adequacy Directive and related text would simply be a “copy out” of the EU’s legislation, with minimal written formal guidance given by the regulator. “One
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