The FSA has today urged firms not to underestimate the continuing challenge of implementing EU measures. The message came in its third annual International Regulatory Outlook (IRO).
The IRO details the range of international regulatory initiatives that will affect the regulatory environment. It also explains how the FSA's international regulatory agenda is shaped by its move towards a principles based approach to regulation.
Two of the highest profile EU measures are the Markets in Financial Instruments Directive (MiFID) and the Capital Requirements Directive (CRD) which are currently being implemented. They will require firms to have the systems in place to meet new or revised prudential, organisational and conduct of business requirements.
