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This piece critically reviews the potential impact of the FSA’s application of its ‘Operational Risk’ approach to regulation. It uses the Treasury proposals for ‘Sandler’ products as an example of the disastrous results that can arise from the combination of political direction of product design with inept regulation.
Keywords:
Competence,
FSA,
Operational risk,
Orphan funds,
Qualifications,
Sandler products,
Stakeholder myth
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© Emerald Group Publishing Limited
2004
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