Insurance Age - PRE-BUDGET REPORT 2005: Government aims to reduce FSA burden on insurance industry

Insurance Age - PRE-BUDGET REPORT 2005: Government aims to reduce FSA burden on insurance industry: "PRE-BUDGET REPORT 2005: Government aims to reduce FSA burden on insurance industry
The Treasury today outlined its plans to reduce regulatory burdens on industry which stem from the Financial Services and Markets Act 2000, in particular removing restrictions, requirements, inconsistencies and anomalies which relate to how the Financial Services Authority operates.
The government claims this proposed order should provide for better-targeted FSA regulation which is more risk-based, and includes proposals to remove unnecessary or disproportionate consultation burdens placed by the FSA on industry, and to enable the FSA to deregulate more freely by issuing waivers and modifications to rules in a wider range of circumstances. "