BRITAIN ATTEMPTS TO SOLVE REGULATORY PUZZLE

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					BRITAIN ATTEMPTS TO SOLVE REGULATORY PUZZLE
Justin Keay
Global Finance; Apr 2009; 23, 4; Docstoc
pg. 8




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Description: Britain's Financial Services Authority (FSA), much criticized for regulatory and supervisory failings that critics say have exacerbated the country's financial crisis, is to abandon its much-vaunted light-touch approach to regulation. FSA chairman Adair Turner is pushing for broad regulatory changes that he suggests should be implemented in cooperation with other developed countries. Unveiling the reform plan, Turner admitted that the financial crisis challenges their assumptions about the self-regulating nature of financial markets. The FSA is generally stressing it will now be much tougher.
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