UK regulator sticks to stance despite Rock run

Britain's head regulator defended the Financial Services Authority's (FSA) principles-based approach, saying that it offers the "best chance" of balancing "the benefits and risks of innovation."

Hector Sants, the chief executive of the FSA, which has faced a barrage of abuse following the Northern Rock affair, said on Tuesday: "We are not operating a 'no fail regulatory regime'. We recognise that a successful financial market place requires innovation and competition. In turn, that means there

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: