All articles by Karen Brown

Principles-based’ regulation

The decision in the PPI judicial review case, R (British Bankers Association) v The Financial Services Authority 2011, is controversial because of the precedent it sets for how principles-based regulation operates in practice. The FSA, at least for the time being, has succeeded in future proofing its approach to the regulation of conduct by applying high-level principles retrospectively to the regulated activity of selling PPI.