Friday, February 13, 2009

FSA criticises ‘watered down’ reports


Powerful countries will have to avoid quashing reports they do not like if they are serious about creating a better early warning system for the global economy, according to the UK City regulator.

Lord Turner, chairman of the Financial Services Authority, said that the International Monetary Fund had issued a series of warnings about the risks posed by the financial system, but that these had often been “watered down”.

See full Article.