The current financial crisis has created a need for closer and more effective co-operation between the financial services industry, government and the FSA. We believe this will be required in order to resolve detailed issues including those arising from public sector stakes in banks. Closer engagement will also be required to tackle the broader challenges effectively: these include ensuring that any new regulatory initiatives are proportionate and effective and that the UK financial services industry has appropriate input to policies which affect the sector. Legal & General will continue to engage with regulatory and government policy-making processes, both directly and through appropriate trade bodies.
