On Wednesday, the FSA announced that it plans to hire 460 new staff members in 2010. The new staff will deliver more intensive supervision of firms and introduce new EU rules governing capital requirements for insurance companies, the Wall Street Journal reports.
This mass-hiring comes on the heels of the FSA’s commitment to tougher regulatory practices. Additionally, the WSJ reports that the FSA’s 2010-2011 budget was recently approved with an increase of 9.9% from last year.
