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Member, Beacon International Group, Ltd.
LONDONThe Financial Services Authority has published its business plan for 2007/2008, which focuses on the regulator's move towards a more principles-based style of regulation.
In a statement announcing the business plan, the FSA said that one of its main priorities for 2007/2008 will be implementing and influencing E.U. legislation, including the Solvency II regime of risk-based capital for insurance companies.
The FSA also said it would focus on the prevention, detection and prosecution of market abuse in the wholesale financial sector, as well as carry out work on the impact of climate change on the financial markets, among other projects.
The business plan can be viewed at www.fsa.gov.uk/pages/library/corporate/plan/bp2007.shtml