News review: February - FSA regulatory takeover put back
Intermediaries found out the definitive timetable for the regulationof the non-life sector by the Financial Services Authority (FSA), whichgave the sector extra time to become compliant.
The timetable was revealed by Financial Secretary to the Treasury RuthKelly in a letter to the chief executive of the General InsuranceStandards Council. It envisaged the FSA taking over the regulation ofgeneral insurance on January 14, 2005.
In her letter, Ms Kelly outlined a timetable that saw the regulation
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