FSA changes - April rules
A colleague told me he had read that the FSA is making significant changes to the rulebook that tells us how we need to run our business. Is this true?
The answer is 'yes' - and 'no'. The rules in Senior Management Arrangements Systems and Controls change from 1 April 2009 but the changes are slight and nothing to worry about.
There are, however, many changes to the guidance and this is important because the updates cover areas not dealt with in detail before. The Financial Services Authority stresses repeatedly that its guidance is not binding; you do not have to follow if you do not want to and it need not be followed to achieve the relevant
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