According to the most recent Legal Week Benchmarker survey, the results of which were released on Thursday, more than two-thirds of the corporate counsel questioned feel that that UK's Financial Services Authority is an "effective" regulator.
Legal Week revealed that 71% of the 100 corporate counsel who took place in the poll were satisfied with the FSA's regulatory performance, whilst 20% rated the body as "highly effective".
Questioned on the FSA's enforcement procedures, 73% agreed that they were fair, 17% felt that they were unfair, and the remaining 10% were undecided.
Speaking to Legal Week with regard to the results, Simmons & Simmons financial markets litigation partner, Robert Turner observed that:
"There has been a clamour for change in the financial press following the Legal & General decision (for which the FSA was criticised), but this report suggests that those most closely affected take a more pragmatic and considered view."
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