In 2000, the Financial Services Authority (FSA) announced that it was to launch a mediation scheme for those it regulated. The scheme was expected to result in the faster and more effective resolution of disputes between the regulator and its subjects and was extended, in February this year, to encompass all those under its jurisdiction, excepting those that are the subject of a criminal case.
Not every case that is passed to the enforcement division for investigation results in enforcement action being taken by the FSA. However, unless the FSA has decided (or been persuaded by the firm) not to pursue the matter, then the firm only has two alternatives.
