FSA will not adopt home-host framework
Madrid – The UK Financial Services Authority's (FSA) CEO John Tiner, has said the FSA wouldn't be adopting the home-host framework, as envisioned by many European regulators and the financial services industry.
At the Institute for International Finance's spring membership meeting in Madrid, Tiner said: "The UK authorities support a 'softer' lead supervision model. That is, we want to retain host powers for subsidiaries – though we may only use them for systemic entities or where there are manifest risks in the UK – and we would like to have some enhanced oversight of systemic branches – albeit within existing legal structures."
The UK FSA previously expressed concerns about the home-host model, but
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