FSPP checks up on FSA

The Financial Services Practitioner Panel said it is to assess whether principles-based regulation and the regulator’s treating customers fairly initiative is “being applied at the coalface”. Setting out the FSPP objectives, chairman Nick Prettejohn said during the remainder of this year he wants the panel to be more proactive and that this will begin with a check that the Financial Services Authority’s move to more principles-based regulation is “suitably proportionate, consistent and risk-based [in the] way that the FSA promised”.