Market Regulation And Enforcement
This area too is highlighted in the FSA's business plan. Whilst no shifts in philosophy or approach are proposed reference is made to the challenges being passed down by Europe, in particular the proposals relating to OTC derivatives, amendments to MiFID and proposed increased regulation in the commodity markets.
In terms of its enforcement work in relation to market abuse the FSA considers that the last four years have seen a "revolution in FSA effectiveness" as a credible deterrence approach has been built up. Over the next two years this approach will continue.