Prevention is better than cure
EMPLOYING early powers of intervention to deal head on with “potential risks” before they crystallise and being “tougher, bolder and more engaged with consumers” will differentiate the UK’s Financial Conduct Authority (FCA) from its predecessor, the Financial Services Authority (FSA), in how it will regulate the market from 2012, writes Patrick Devine, of Chadbourne & Parke (London) LLP.