This is back up information to the Turner Report.

A regulatory response to the banking crisis

turner-discussion-paper-dp09_02 216 pages

This FSA Discussion Paper (DP) underpins The Turner Review, which is being published simultaneously. This DP covers the issues set out in Chapter 2 of The Turner Review and the associated actions, providing further analysis and background material. Both documents have a common analysis of the main causes of the current financial crisis.

Who should read this DP

Although the focus on this DP is on banking and investment banking activities, elements of the DP are much broader in their potential application and will be of interest to other types of regulated firms, including insurance firms. Section 11, concerning the FSA’s supervisory approach is relevant to all regulated firms. The proposals set out in this DP, once implemented, will result in a significantly stronger global regulatory framework and global banking system. This outcome is clearly highly relevant to consumers.