In a speech at the Compliance Institute on 30 January, Clive Briault, the Financial Services Authority’s (FSA) managing director of Retail Markets, outlined an overview of some of the main challenges and tasks facing the FSA for 2008.
The speech covered a number of significant developments from last year, including the transition to the new Capital Requirements Directive regime and data security.
Briault addressed several key aspects of the FSA’s retail agenda this year, including: responding to changing market conditions and the issues raised by Northern Rock, whilst remaining committed to principles-based regulation; ensuring firms meet the deadlines of implementing Treating Customers Fairly and taking action where firms fail to meet them; delivering a considered response to the ideas and feedback provided on the Retail Distribution Review and looking ahead to the outcome of Otto Thoresen’s Review of a national generic financial advice service.