Industry panel calls for more supportive regulation
The Financial Services Authority (FSA) Smaller Businesses Practitioner Panel has released its Annual Report for 2006/7. As a part of the regulatory accountability framework, the panel represents the interests and views of smaller financial services firms, approximately 93% of the firms regulated by the FSA, and monitors the overall performance and effectiveness of the FSA in the context of its treatment of smaller firms.
Mark Rothery, chairman of the panel, said:
"2007 is proving to be another watershed year for regulation – the implementation of European directives, the FSA's transition to a more principles-based
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