Management Clinic: Off the radar?
The FSA has issued another 'Dear CEO' letter to bigger firms on solvency. As it hasn't seen fit to include my firm, presumably it doesn't apply to us, as we must be 'under their radar'?
'DREAM ON', would be my first response. May I respectfully remind you that the FSA rules apply to all regulated firms, whatever their size.
However, the FSA will take the view that response should be proportionate, so for example, your procedures manual will be a slightly less weighty tome than Aon's, for example.
The solvency issue which you mention and the subject of the 'Dear CEO' letter reflects concern expressed by the FSA following work they have done in the sector.
You will be aware of
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