Source · Select Committees · Industry and Regulators Committee
Recommendation 19
19
Paragraph: 117
The OfS’ targeted approach can mean it communicates little with institutions whose financial data appears...
Conclusion
The OfS’ targeted approach can mean it communicates little with institutions whose financial data appears healthy. This limits the regulator’s knowledge of providers that are not in financial difficulties, makes it harder to identify risks that are not evident in financial data and means that relationships may have to be built from scratch if difficulties occur. It is welcome that the OfS has recognised this and introduced greater direct engagement with providers this year.
Paragraph Reference:
117
Government Response
A response document is linked to this report, dated 28 November 2023. Response attribution to this conclusion has not been verified. Read the response document ↗