The financial services sector has taken quite a knock in the aftermath of Northern Rock’s nationalisation, with the industry’s regulator coming in for intense scrutiny over its handling of the situation.
But that is not the only concern facing the Financial Services Authority, as this Financial Services and Pensions Special Report examines. Despite being renowned for its dedication to principles-based regulation and its position as the industry’s sole regulator, the recent turmoil at the authority could call both of these hallowed positions into question.
Elsewhere, the report looks at the wider impact of the subprime debacle and how companies in general are facing a higher level of risk than at this time last year. The enormous knock-on effect of this on pension schemes is discussed as companies seek ways to reduce the costs and risks associated with their defined benefit pension arrangements.