Thursday, July 21, 2005

FSA to reform investigation process


FSA unveils plans to reform investigations, but they will now cost more and take longer

The Financial Services Authority has unveiled plans to make its investigations fairer and more transparent, but it is likely they will cost more and take longer.

The FSA held an internal review after Legal & General successfully launched an appeal and overturned a ruling earlier this year over its handling of endowment mortgages.

As a result, the city's regulator has introduced 44 reforms designed to address its shortcomings and ensure that accused companies and individuals obtain a fairer hearing.

See full Article.