UK Treasury: London maintains risk-based system

04 December 2007

The UK will maintain its risk-based regulatory system, Kitty Ussher, Economic Secretary to the Treasury, said on a conference in London. “I know that there are those who argue that the events of the last few months have found our system of principles-based regulation wanting - and I'm sure that some of them would like to see us retreat into a wave of prescriptive regulation”, she said. ”I want to repeat here and now, that we absolutely reject that.”

 

London's proportionate, and risk-based regulation is one of our strengths”, she concluded, “and we won't be abandoning it.”

 

Full speech

© Graham Bishop