UK

FSA Progress Report Paints a More Detailed Picture of Risk-Related Supervision.

Joanna Gray, University of Dundee

In its January 2000 discussion document entitled “A new regulator for the new millennium” FSA outlined a new approach to supervision of the regulated community that it would seek to adopt on an industry-wide basis once it acquired its new status, powers, functions and, most importantly of all, its new objectives, after N2. Fundamental to this new approach is a view of the task of a financial regulator as being not to seek to prevent every single business failure or investor loss (an obtainable and arguably undesirable goal in itself) but rather to couple the use of inevitably limited regulatory resource with the achievement of the FSA’s four statutory objectives.