The FSA had a busy week, with a major conference in London on the future of the regulator in its new guise as the Prudential Regulatory Authority (PRA) .
Media commenced with an interview in which which Hector Sants discussed the obligations of the regulator to publish findings such as those from their report into RBS (which has been taken out of the FSA's hands). Speeches given by Hector Sants and Andrew Bailey are available here and here respectively.
It is of course banking focused, but the new risk assessment framework (p9) shows much more agressive intent from the regulator, and it will be interesting to see any transference of experience between Solvency II preparations and changes on the Banking side when the PRA finally comes out to play
As a funny aside, Andrew Bailey confirmed in the speech that the ARROW supervision model was to be scrapped - having seen the number of site visits it generates dwindle as shown in these numbers, I am surprised it has taken so long to confirm it!
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