Financial Services and Markets Appendices to the Minutes of Evidence


Note by Mr David Challen, Chairman, the FSA Practitioners Forum

  At the hearing of the Joint Committee which I recently attended I was invited to suggest ways in which the FSA's relationship with the Practitioner Panel might be described in the Bill.

  I would propose something along the following lines:

    "Before proposing new, or revisions to existing, policies and/or associated principles or rules, which could have a material impact on regulated firms, the FSA will consult the Practitioner Panel. Where it decides not to follow any formal guidance offered by the Practitioner Panel, the FSA will report its reasons for so deciding to the Practitioner Panel and in the FSA's Annual Report."

16 April 1999

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