‰A new group of supervisory specialists will regularly review the supervision of all high-impact firms to ensure procedures are being rigorously adhered to. ‰The numbers of supervisory staff engaged with high-impact firms will be increased, with a mandated minimum level of staffing for each firm. ‰The existing specialist prudential risk department of the FSA will be expanded following its upgrading to divisional status, as will the resource of the relevant sector teams. ‰The current supervisory training and competency framework for FSA staff will be upgraded. ‰The degree of FSA senior management involvement in direct supervision and contact with high-impact firms will be increased. ‰There will be more focus on liquidity, particularly in the supervision of high-impact retail firms. ‰There will be raised emphasis on assessing the competence of firms’ senior management.
Abbey deputy chief risk officer Iain Laing believes that flats will be hit hardest in a housing market downturn.Speaking at last week’s key account conference, Laing said: “We can see one very clear story in that the market for flats, particularly city centre flats, looks disastrous at the moment. We have seen big devaluations and […]
Maybe it’s just me but a lot seems to have happened in the financial world since my last IFA View in January and not much of it is the sort of stuff that puts a smile on your face.
Leading commentators say the FSA is likely to rebalance its priorities in response to the Northern Rock debacle, with more focus on prudential supervision and less on conduct on business regulation.
Capital gains tax reforms could mean a swathe of former buy-to-let properties will hit the market from Monday as investors seek to offload unwanted property, warn tax experts.
Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.
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