The SRA is adamant that ?outcomes-focused? does not mean ?light-touch?
PUBLISHED October 6, 2011
?Principles-based regulation will sustain the current, rigorous regulatory environment, but with better and more effective outcomes.? No, that?s not what the SRA says about today?s implementation of outcomes-focused regulation - but what the Financial Services Authority said about its own switch to an ?outcome-focused? compliance regime back in April 2007. And we know what happened subsequently, because we are still living with the dire consequences. read more