The FSA has set out the first phase of its programme to simplify its handbook and remove unnecessary rules and guidance as part of its drive to achieve better regulation for firms.
The handbook review programme will focus on eliminating or changing requirements which are more restrictive than needed to achieve the FSA's statutory objectives, which do not deliver benefits to justify their costs, or which are not consistent with the FSA's focus on senior management responsibility.
It forms part of the FSA's move towards a more principles-based approach.
FSA Chairman Callum McCarthy said: "We are determined to be more rigorous about the costs and burdens that regulation imposes on firms. We are also simplifying our Handbook requirements and the way we express them, which will help all firms but particularly smaller ones who do not have access to expert advice."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
