{"id":38,"date":"2007-02-08T19:01:41","date_gmt":"2007-02-08T19:01:41","guid":{"rendered":"http:\/\/kranenburgesq.com\/blog\/2007\/02\/watching-out-for-the-y-in-mpbr\/"},"modified":"2007-02-08T19:01:41","modified_gmt":"2007-02-08T19:01:41","slug":"watching-out-for-the-y-in-mpbr","status":"publish","type":"post","link":"https:\/\/kranenburgesq.com\/blog\/2007\/02\/watching-out-for-the-y-in-mpbr\/","title":{"rendered":"Watching out for the Y in MPBR"},"content":{"rendered":"<p align=\"left\">Two days ago the FSA published its Business Plan for 2007\/08 (<a target=\"_blank\" title=\"FSA Business Plan 2007\/08\" href=\"http:\/\/www.fsa.gov.uk\/pubs\/plan\/pb2007_08.pdf\">here<\/a>; <a target=\"_blank\" title=\"FSA press release\" href=\"http:\/\/www.fsa.gov.uk\/pages\/library\/communication\/pr\/2007\/019.shtml\">press release<\/a>). Yesterday, the Financial Times published no less than four pieces on the topic of principles-based regulation. They are: <a target=\"_blank\" title=\"FSA regulation move set to cost City \u00c2\u00a350m\" href=\"http:\/\/www.ft.com\/cms\/s\/fa9b7e7a-b650-11db-9eea-0000779e2340.html\">News<\/a>, <a target=\"_blank\" title=\"Uphold the principles of financial services regulation\" href=\"http:\/\/www.ft.com\/cms\/s\/61a60f32-b61e-11db-9eea-0000779e2340.html\">Comment<\/a>*, <a target=\"_blank\" title=\"Finding Felicity Flexible is the FSA\u00e2\u20ac\u2122s hardest task\" href=\"http:\/\/www.ft.com\/cms\/s\/1173842a-b61b-11db-9eea-0000779e2340.html\">Lombard<\/a>* and <a target=\"_blank\" title=\"More, more or less\" href=\"http:\/\/www.ft.com\/cms\/s\/47e340d8-b650-11db-9eea-0000779e2340.html\">Mudlark<\/a> (* subscription required).<\/p>\n<p align=\"left\">Interesting to highlight is the notes of caution and shared views expressed in the news article and comment on the dangers of principles&#8217; potential vagueness and the requirement of a competent regulator with industry input to make such approach work. Lombard particularly explores the importance of competent personnel for a regulator to be competent (which is acknowledged in the Business Plan, on page 33 (35 of 55); the SEC recruitment video Lombard refers to, for who&#8217;s interested, it&#8217;s <a title=\"SEC Recruitment: Make a Difference: Work for the SEC\" target=\"_blank\" href=\"http:\/\/www.sec.gov\/about\/media.htm\">here<\/a>).<\/p>\n<p align=\"left\">It&#8217;s Mudlark who elaborates on the &#8220;more&#8221; in &#8220;more principles-based regulation&#8221; or MPBR, expecting the &#8220;Y&#8221;, as in &#8220;yet&#8221;, to follow in years ahead. (Also see this <a title=\"Wake up pal\" href=\"http:\/\/kranenburgesq.com\/blog\/2007\/02\/wake-up-pal\/\">previous post<\/a> on FSA Enforcement strategy, and the FSA Discussion Paper <a title=\"FSA Discussion Paper DP06\/05\" target=\"_blank\" href=\"http:\/\/www.fsa.gov.uk\/pubs\/discussion\/dp06_05.pdf\">DP06\/05<\/a>, on industry guidance, which is being referred to in the comment piece.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two days ago the FSA published its Business Plan for 2007\/08 (here; press release). Yesterday, the Financial Times published no less than four pieces on the topic of principles-based regulation. They are: News, Comment*, Lombard* and Mudlark (* subscription required). Interesting to highlight is the notes of caution and shared views expressed in the news [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-38","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/38","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/comments?post=38"}],"version-history":[{"count":0,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/38\/revisions"}],"wp:attachment":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/media?parent=38"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/categories?post=38"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/tags?post=38"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}