The FSA's Approach - Unwritten rules
In the drive to 2005, the Financial Services Authority (FSA) hasannounced principles and published consultation papers - but the industryis still waiting for the first regulations, writes Paul Lang
As the countdown to regulation continues, those intermediaries aimingto continue trading after the January 2005 deadline will already beplanning for FSA authorisation with a root-and-branch re-evaluation oftheir businesses.
The challenge for many - especially the smaller firms - will be a stiffone, throwing a harsh spotlight on every aspect of their business.
A fallout rate for independent intermediaries of between 25% and 40% iswidely predicted as a result of regulation. Of special concern
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