Cookies?
Library Header Image
LSE Research Online LSE Library Services

Approaches to risk and consumer policy in financial service regulation in the UK.

Lunt, Peter, Livingstone, Sonia ORCID: 0000-0002-3248-9862, Kelay, Tanika and Miller, Laura (2006) Approaches to risk and consumer policy in financial service regulation in the UK. Forum : Qualitative Social Research, 7 (1). ISSN 1438-5627

[img]
Preview
PDF
Download (160kB) | Preview

Abstract

The financial service and communication sectors in the UK have been subject to radical re-organisation, involving the formation of sector-wide regulatory bodies (FSA and Ofcom) with wide-ranging powers and statutory obligations. Although both have responsibilities for assessment and management of risk, their remits go beyond traditional approaches to regulation. Hence, although primarily oriented to economic policy, both regulators address questions of corporate responsibility, balance of stakeholder interests, the public good, consumer representation and public participation. Accordingly, they are undertaking a range of activities, including consumer education and research, public consultation and the involvement of stakeholders in policy review. Focusing on the case of financial services, this paper presents an analysis of two early speeches by FSA directors, one focused on the approach to risk adopted by the regulator and the other on consumer policy. The second part of the paper considers the conceptual issues regarding different modes of risk management in the new regulators, requiring an account of the various levels and forms of involvement by stakeholders and publics in the identification and management of risk. It follows on from the analysis of the speeches to examine the relationship between risk and consumer policy in the practices of the FSA.

Item Type: Article
Official URL: http://www.qualitative-research.net/fqs/fqs-eng.ht...
Additional Information: (c) 2006 Forum Qualitative Sozialforschung / Forum: Qualitative Social Research.
Divisions: Media and Communications
Subjects: H Social Sciences > H Social Sciences (General)
Date Deposited: 15 Aug 2007
Last Modified: 04 Jan 2024 18:57
URI: http://eprints.lse.ac.uk/id/eprint/992

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics