In the first quarter of 2006 the FSA published the FRO (Financial Risk Outlook), which outlined their assessment of the key risks arising to the statutory objectives that guide their regulatory activity. They also published their Business Plan.
Private equity was mentioned several times in those papers as there are a number of recent developments in the private equity market which are either linked to previous areas they have focused on or where new issues arise. The FSA have recently undertaken a wide-ranging review of the private equity market, drawing together different themes, with a view to ensuring that the overall level and form of regulatory engagement is optimal.
The conclusions from this review are published in DP06/6.