The FSA is set to reduce the number of consultation papers sent out on policy initiatives, said chief executive John Tiner.

Tiner said the FSA hoped to cut the number of papers published by half for 2004, to a total of 30. The FSA is due to publish its 200th consultation paper next Monday.

He added: "Up to now we have been in the policy development and reform phase of our evolution. We must now give firms and their customers, as well as staff at the FSA, time to become familiar with the new requirements and for them to become embedded in the marketplace."

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