The FSA has published Feedback Statement 09/3: A regulatory response to the global banking crisis - Feedback on the Turner Review and DP09/2 (FS09/3).
In FS09/3 the FSA sets out its analysis of the responses to the Turner Review and its associated Discussion Paper and also reports on the progress made in implementing change and in obtaining agreements with other jurisdictions since March 2009 (when the Turner Review was published).
The FSA reports that respondents generally agreed with the analysis in the Turner Review and the Discussion Paper as to the causes of the financial crisis and the main recommendations and proposals for regulatory response.
The FSA also acknowledged that the wider debate concerning the overall approach to financial regulation has continued and that its own thinking has evolved. Towards the end of October the FSA will issue a new Discussion Paper which will include further analysis on the appropriate approach to systemically important firms and the need for an integrated consideration of the overall economic impact of reforms to the global capital and liquidity regimes.