Consultation papers:
No new developments this week.
Discussion papers:
No new developments this week.
Policy statements:
No new developments this week.
Press releases:
No new developments this week.
Speeches:
11 October: Mansion House Speech: Adair Turner, FSA
chairman.
The FSA has published a speech by Adair Turner in which he
reflects upon his tenure as FSA Chairman and the issues the
financial services industry has faced during recent years. He
considers the causes of the financial crisis and comments that they
should have been foreseeable. The failings he says came not only
from the FSA for conducting a too light touch system of regulation,
but also that there were deficient rules, a deficient structure and
a dangerous culture surrounding the financial markets. The rules
allowed banks to function with equity capital resources and
liquidity buffers which were well below safe levels. The structure
of governance gave the FSA too much to do in
