FSA introduces fairer enforcement processes

The Financial Services authority is to change its enforcement processes after the Financial Services and Markets Tribunal raised doubts about the fairness of the authority's enforcement actions.

The key outcome of the review will be strict separation between those who investigate a case and those who decide.

FSA chairman Callum McCarthy said: "The Regulatory Decisions Committee will no longer take legal advice from the Enforcement Division. Moreover, the Enforcement Division will no longer have direct access to the RDC without the substance of such discussions being disclosed to the other party in the case."

See full Article and FSA Press Release.