FSA unveils intensive consumer protection strategy
Hector Sants, CEO of the Financial Services Authority (FSA), has outlined the watchdog's new consumer protection strategy.
Speaking at the annual Lubbock Lecture at Oxford University’s Saïd Business School, Mr Sants described how the regulator will deliver its new approach, involving early detection and intervention, through intensive supervision.
The FSA’s consumer protection strategy seeks to achieve three goals:
making the retail market work better for consumers;
avoiding the crystallisation of conduct risks that exceed the FSA’s risk tolerance;
delivering credible deterrence and prompt and effective redress
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