Representatives of City and financial PR advisers are lobbying the
Financial Services Authority to gain PR representation on a powerful
committee of policy makers to be formed by the super-regulator.
The committee will advise the FSA’s board on policy and among other
things will look at the implementation of new regulations concerning
information disclosure and codes of conduct for City PR people.
Members of the practitioners committee will be drawn from City
professions including bankers, brokers, lawyers, and accountants.
Stewart Prosser, chairman of the IPR’s City and Financial group, which
is lobbying to be represented on the committee, has told the FSA that he
supports its proposals to explore new regulatory standards.
’The FSA is empowered to put pressures on the way people speak
We want to be involved in any discussions,’ said Prosser.
The FSA has yet to agree to include PR advisers and is still drawing up
its final plans for the committee. It is set to produce recommendations
for the regulation of City PR for implementation in late 1999.