The Financial Services Authority ("FSA") has published a speech by Nausicaa Delfas (Head of Department, Conduct Supervision, FSA) at the Non-Executive Directors’ Conference on 6 December 2011. Delfas’ speech focuses on the FSA’s current and developing approach to the responsibilities of non-executive directors, which includes: (i) having a good understanding of the firm, its strategy, its customers and the types of products that it sells; (ii) playing a part in identifying potential risks to customers, not just those to shareholders; and (iii) providing a robust and insightful challenge to executive management on all aspects of the business, including culture.