The chairman of the U.K. Financial Services Authority (FSA) Lord Turner said that the FSA’s detailed analysis of the mortgage market was highlighting a very complex situation where the FSA had to take account of short-term trends as well as design the appropriate long-term policy. These remarks were made at at the FSA’s mortgage conference held yesterday

He told the audience that careful thought had to be given to the relative merits of alternative policy instruments, and, specifically, the choice between product specific regulation, sales regulation and firm level regulation.

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