Hector Sants, the chief executive of the Financial Services Authority (FSA), said that the regulator remained committed to its principles-based approach.
Speaking on Wednesday, Sants said that the FSA planned to introduce more principles-based regulation in spite of criticism this would make the financial system less stable.
"I am aware that a number of commentators have asked whether now is an appropriate time to drive forward a regime of fewer and less prescriptive rules," Sants said. "Well
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