An initiative by some of the UK’s biggest investment banks and law firms to develop an industry consensus on liabilities arising from high-risk financial products has gathered pace with the news that industry watchdog the Financial Services Authority (FSA) is interested in its views.
The FSA has been following the discussions, which have been led by JP Morgan and have included input from firms such as Allen & Overy, Linklaters and Clifford Chance, and has expressed interest in the forum’s input into its own initiatives.
