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FSA praised for cutting burden of regulation

The Hampton review has held up the FSA as a model for reducing the regulatory burden across UK businesses.

The review, commissioned by Chancellor Gordon Brown in the 2004 Budget, praises the FSA’s risk assessment protocol, which it says allows for more complete assessment and flexible regulation.

It also commends the FSA’s use of administrative penalties rather than court proceedings.

Brown says he will fully adopt the review’s recommendations, applying risk strategies to reduce inspections by a third. This will be accompanied by tougher penalties for companies which consistently break the rules.

The Hampton review covered the work of 674 regulatory bodies at national and local level in the UK.

But IFAs are cynical. FSC Investment Services managing director Frank Cochran says: “There is no way the FSA should be praised for lowering regulation burden. Because of extra regulation, the IFA market will be 30 per cent lower in the next six months.”


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At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]


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