'Dear CEO' letters
The Financial Services Authority (FSA) sometimes chooses to communicate with accountants (and other audiences) on supervisory issues by issuing what it calls “Dear CEO” letters.
These arise from supervisory work which the FSA has carried out which has highlighted particular regulatory concerns.
The letter explains to senior management of firms what the FSA's expectations are, so that they can take steps to review their own arrangements where necessary. These letters do not constitute guidance as defined in Financial Services and Markets Act (FSMA).
To learn more, visit the dedicated section on the FSA’s website, at www.fsa.gov.uk/pubs/ceo.