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Well done SRA. Following the example set by what was the FSA, reducing the rule book to the status of the Pirate Code in Pirates of the Caribbean ("not rules....more a set of guidelines...aaarghhh...").

Funnily enough, that more principle-based approach really didn't go too well for the FSA, leading to the reintroduction of more specific rules again. They have of course since re-badged as the FCA after numerous crises. Any chance of history repeating itself?

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