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Derivatives

“The market doesn’t like uncertainty. We’d like to operate in an environment where we understand what it is that is being proposed, but currently the basis on which the FSA might choose to exercise or not exercise the power is not terribly clear.”

—Timothy Hailes, chairman of the Joint Associations Committee, in response to a recent consultation paper issued by the Financial Services Authority on the Financial Conduct Authority’s use of temporary product intervention rules.

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