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Dear [FIRSTNAME],
Another busy week from our Regulators.
Can I particularly draw your attention to the Consultation Paper on Corporate Governance on page 2. This has been much trailed by the FSA and has been a constant theme of speeches from the Chief Executive and other senior personnel at the FSA. Corporate “cultures” and behaviour are areas the FSA can address without waiting for international regulatory conformance which is delaying other responses to the financial instability. In any event the FSA was required by many of the recommendations in The Walker Report to come forward with proposals for their fulfilment. Be aware corporate and individual competence and behaviour are coming under greater regulatory scrutiny (just count the number of times the word “intrusive” appears in this newsletter and any FSA pronouncement).
Many of you will be interested in the spotlight the FSA is bringing to bear on those firms who generate the greatest number of complaints set out in the Policy statement described on page 1.
If you require assistance with gauging the culture the FSA require, assessing the competence of those who hold significant influence functions, or wish to apply to hold such, or any other matter of regulatory concern then please remember your helpline 08456 12 12 11 for a without obligation conversation or email admin@ifact.co.uk.
Warm regards
John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211
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