Which parts of the FSA’s guidance is a firm expected to follow? 

That’s what one attorney asked Roseanne Harford, Manager, Strategy and Risk Division – at the FSA during Tuesday’s MiFID Forum in London.

The FSA relies on informal guidance which creates the risk of a soup of materials that firms find difficult to navigate, he said. Is the FSA thinking about its internal process and how to disseminate guidance and where to put them on its Web site  –“Which is a disaster.”

Harford said the FSA is working on its messaging and especially on its Web site design to make it clear when new guidance comes out or a new directive is launched.“Part of our job is to say the same thing repeatedly to different audiences.”

Filed under: Securities & Capital Markets, regulation, risk