Building societies can expect more intrusion: FSA.

Financial Adviser, May, 2009

Byline: Emma Ann Hughes

Building societies should get used to a more intrusive form of regulation, according to the FSA.

Speaking at the Building Societies' Association annual conference in Harrogate, Julia Dunn, head of building societies for the FSA, said the City watchdog understood when building societies accused it of being intrusive but the regulator would continue down this path.

She said: "We have learnt a number of lessons as a regulator. It is fair to say though we will continue to be intrusive and more intrusive than we have been in the past.

"Previously we have relied on senior management to make judgements and concentrated our efforts on the risk and control framework. Now we will be questioning judgements,...

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