The FSA has published a speech by Clive Briault (Managing Director, Retail Markets, FSA) at the Westminster Forum. In his speech he discusses:

  • The role of the FSA and its statutory objectives.
  • Principles-based regulation.
  • The importance of treating customers fairly.
  • The sale of Payment Protection Insurance (PPI). Here he looks briefly at the report on payment protection insurance and states that the FSA will conduct further mystery shopping on firms to gather additional information on PPI sales and ensure that the refunds firms provide to consumers following poor selling practices are calculated in line with their obligation to treat customers fairy.

View Regulatory challenges in a principles-based environment, 8 November 2007