Global regulatory update

An important amount of regulatory work continues to be carried on at the UK, European and international levels. The last half of the year can generally be described as having been one of internal and operational reflection and revision, as well as of some larger systems overview and response. George Walker considers the most important and significant issues that have arisen.

George Alexander Walker, Centre for Commercial Law Studies, London

UK

The Financial Services Authority (FSA) has issued a number of consultation documents and policy papers with final rules being issued on such matters as listing and collective investment schemes. The new depolarisation regime came into effect on 1 June 2005 and Deloitte has been appointed to carry out a review of the costs of financial regulation in cooperation with the Financial Services Practitioner Panel.