The discussion paper ask whether transparency is a legitimate regulatory tool and explores the creation of a ‘Code of Practice on Regulatory Transparency’ for determining what further information the regulator might publish.
The discussion paper ask whether transparency is a legitimate regulatory tool and explores the creation of a ‘Code of Practice on Regulatory Transparency’ for determining what further information the regulator might publish about firms and industry sectors.
The paper sets out a code of practice which would provide a transparent mechanism for guiding FSA decisions about what additional information it might disclose. It provides examples of the types of information the regulator may consider publishing, and draws a clear distinction between simply making information available and publishing information in a way that improves how markets function.
“The discussion paper seeks to initiate debate on how we can better utilise transparency to achieve our regulatory aims, and in particular proposes a code of practice”, Hector Sants says. “The approach we intend to take is to do some things that bring about greater transparency, and to watch carefully what the market effects of these are over time”, the FSA paper notes.
FSA recognises that stakeholders hold strong and often polarised views on transparency, which is why the regulator wants to initiate a full and open debate that involves all those who may be impacted by its proposals.
Deadline for comments is 29 August 2008.
Press release
Newsletter
Discussion paper
© FSA - Financial Services Authority
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article