FSA issues conglomerates rules, warns of more EU regs to come
The UK's Financial Services Authority's (FSA) new chairman, Callum McCarthy, has warned financial executives about the "severe strains" UK-based financial institutions will face in implementing new regulations from the EU during 2004 and 2006.
Issued in late October, the FSA and UK Treasury’s Consultation Paper 204: Financial Groups implements the EU document, which was published in its final form in February 2003.
The combined regulation and legislation is designed to improve supervision of financial
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