FSA - Prop: Propped up

Proprietary traders have become one of the bêtes noirs of the financial crisis. But it looks like these high-rollers in the investment banking casino will get a relatively easy ride in the UK’s new regulatory regime. The biggest risk-takers on the trading floor can expect nothing much worse than some additional form-filling and a possible interview with a regulatory functionary. Until now, only top management had to qualify as “approved persons” for the Financial Services Authority, the UK marke...