Beyond the crunch…

As night follows day there will be an end to the current recession, or depending which newspaper you read, depression, writes Richard Burger of Reynolds Porter Chamberlain; but post-recession what will be the state of financial services regulation? In an attempt to look into the regulatory future the Financial Services Authority’s (FSA) crystal balls of the Business Plan 2009/10 (the Plan) and Financial Risk Outlook 2009 (the Outlook), provide some guidance on what we can expect of the regulator and what the regulator expects of firms in future years.

Richard Burger MSI is a solicitor with Reynolds Porter Chamberlain LLP. A former FSA enforcement lawyer, since returning to private practice Richard has specialised in financial regulation and compliance: +44 (0)20 3060 6429, richard.burger@rpc.co.uk

The demise of More Principles Based Regulation (MPBR)?

In his CEO’s overview, Hector Sants describes MPBR; however, he goes on to state that the FSA’s regulatory focus “is not per se on our principles, but rather on judging the consequences of the actions of the firms and the individuals we supervise. Given this philosophy, a better strapline would be outcomes-focused regulation.”