FSA to review client assets regime

The Financial Services Authority is to explore changes to the client assets regime in the wake of the Lehman Brothers collapse.

In its final Business Plan, ahead of its split-up at the beginning of next year, the regulator highlighted the potential measure as one of the way it will "strengthen our intensive regulatory and supervisory approach". "We will review our client assets regime to see if further changes are required following the lessons learned from ongoing insolvencies, and the recent judgement of the Lehman Brothers International (Europe) client money Supreme Court Appeal," it said. "However, it is important to recognise that insolvency law and the Special Administration Regime is determined by prima...