Client Alert
| May 18, 2009
FSA Enforcement Policies: What's New?
The Financial Services Authority (the "FSA") is undoubtedly in a period of change. Recession and calls for greater regulation of the financial services sector have increased pressure to make significant changes in the way the FSA regulates firms. In a speech on May 6, 2008, the FSA's CEO Hector Sants spoke of a tougher scrutiny of board-level decision-making, and indicated that higher penalties are another way of achieving "credible deterrence." These comments echo recent developments at the FSA.
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This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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