The FSA said it welcomed government efforts to cut regulations costs in its response to the Pre-Budget report.
The review of the Financial Services and Markets Act 2000, the FSA said, “picks up on the business priorities we have set for ourselves, and three key outcomes”.
FSA chairman Callum McCarthy said the key was creating markets that were “efficient, orderly and fair”.
Regulation came at a price and the cost could fall disproportionately on small firms, said McCarthy. The FSA would be aiming to reduce costs for those businesses most seriously affected.
