Articles - IMF: UK regulator suffers 'lack of clarity'


 The UK Financial Services Authority is suffering from a "lack of clarity" over its current mandate, according to the International Monetary Fund.
 
 In new papers released on Wednesday, accompanying the body's country review published earlier this week, the IMF warns of market regulation and supervision becoming "diluted".
 
 It suggests uncertainty over its mandate risks being carried forward to the Financial Conduct Authority, one of the successor agencies to be set up when the FSA is disbanded.
 
 "The new Financial Conduct Authority, with its broad remit, is subject to some of the lack of clarity present in the current mandate of the FSA," one technical paper notes.
 
 "Ways should be found - such as greater clarity in how the remit of the various parts of the FCA are expressed or the internal senior management structure within the FCA - to ensure that market regulation and supervision, and prudential supervision of FCA firms, do not become diluted."

Back to Index


Similar News to this Story

Taking the fight to impersonation fraud
Fraudsters are using increasingly sophisticated impersonation tactics to target savers’ pensions. The enhanced intelligence we and our partners are de
Do famous investment sayings hold water
Anyone who has spent time thinking about markets is likely to have heard at least a few time-honoured investing aphorisms. But do they actually work?
What longevity trends mean for pensions and insurers
Over the last two centuries, average life spans have doubled. For pension schemes, insurers and policymakers, this long-term trend has shaped how we t

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.