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Speech: Hector Sants - Intensive Supervision, delivering the best outcomes

( November 9, 2009, 16:00 GMT | Official Statement) -- MLex Summary: The UK Financial Services Authority is stepping up testing of companies' models and scrutiny of how consumers are treated, such as by "mystery shopping," to act earlier on risky practices, chief executive Hector Sants said in the prepared text of a speech being given at Bloomberg in London. To curtail risks in retail banking, the agency has forced some deposit-takers to curtail price competition and blocked some new entrants. The FSA plans guidelines on management qualifications and has rejected some applicants for executive posts. Sants said the agency will push more criminal cases to strengthen deterrence. Lastly, he urged not diverting the FSA from its work with talk of a power shakeup just when it is applying lessons learned in the crisis.Good afternoon ladies and gentlemen....

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