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ARTICLE · 21 MARCH 2011

The FSA Business Plan 2010/11 - Will It Make It To The End?

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The FSA published its Business Plan for 2010/11 on 17 March, 2010.

United KingdomFinance and Banking
Stuart Hills
Stuart Hills

Originally published on 10 May 2010

The FSA published its Business Plan for 2010/11 on 17 March, 2010. The old philosophy of the "light-touch" retrospective approach with its focus on systems and controls is discarded in favour of a more proactive outcomes-based approach. This highlights a willingness on the part of the regulatory authorities to intervene earlier than was previously the case.

Whether the FSA will ever be able to carry out this plan and what impact the new Financial Services Act will have very much depends on the effect of the general election result. The Conservatives have proposed radical change to the regulatory framework, abolishing the current tripartite system and giving the Bank of England responsibility for maintaining financial stability.

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