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FSA chairman highlights the need for international best practice standards


FSA chairman Howard Davies has highlighted the need for Offshore Financial Centres to meet international &#39best practice&#39 standards.


Delivering the first Anniversary Lecture of the Jersey Financial Services Commission, Davies said there was frustration among G7 finance ministers and regulators about the co-operation they get from some offshore centres.


As a result the G7 group has set up a Financial Stability Forum to review how offshore centres were meeting international agreements.


He believes this will lead to more effective and a higher standard of offshore regulations in the future.

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