Corporate governance – a fundamental aspect of the FSA’s intensive supervisory agenda?

Vanessa Young is an associate at Herbert Smith LLP. She can be contacted on vanessa.young@herbertsmith.

During the last three years, the way in which the Financial Services Authority regulates has changed radically both in terms of approach and intensity. It was announced last week that the overall funding requirements of the FSA had increased 9.9% over the past year, reflecting the work the FSA has been undertaking to deliver its new intensive supervisory approach and its credible deterrence policy. The FSA has been out to flex its regulatory muscles and demonstrate through its actions that people should indeed be very frightened of the FSA.