The FSA's tough task
In the first of a series of interviews with national regulators, we talk to the UK's Financial Services Authority about the taskforce it is setting up with other European regulators to assess the size and value of the losses suffered due to the failure of Lehman Brothers. Richard Jory put the questions to the asset management sector team, headed by Dan Waters, the FSA's director for retail policy and conduct risk, and 'sector leader' for asset management
Structured Products: Which government departments are responsible for the regulation of retail and institutional structured products in the UK? Explain the legislative responsibilities for the governance of retail and or institutional structured products.
UK Financial Services Authority: Under both European Union and UK legislation, the FSA is responsible for the regulation of UK-based firms that provide investment products or services. As far as structured retail products are concerned, we have
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