Next month the UK’s Financial Services Authority (FSA) will bring to a close almost three years of heated debate on the country’s new market abuse regime. So far its bright young policy advisers have had a torrid time trying to win over the City’s great and good to the proposed reforms and there is no reason to believe that their lives should get any easier as the deadline for comments draws near.
Causing the most trouble are some of the City’s most respected lawyers, who are questioning the FSA’s proposals as they attempt to clarify and quantify what all the upheaval actually means to them and their clients.
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