Discussion paper gives first hints regarding future philosophy of CPMA
The Financial Services Authority (FSA) has called for a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection and specifically the issue of product intervention.
FSA chairman, Lord Turner, called the debate "fundamental to shaping the regulatory philosophy of the new organisation."
The CPMA will be responsible for scrutinising insurance intermediaries under the new regulation system overseen by the Bank of England. It is due to be in place by the end of 2012 when the FSA is abolished and the discussion could prove to be an important signpost of the direction regulation is likely to take.
The FSA's call for a market debate came in the form of a discussion
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