Law firm highlights drawbacks of "one stop shop" regulator
Bruno Geiringer, a partner in the insurance group at Pinsent Masons, said that "scraping the FSA for banks is right but the case is not made for insurers".
Referring to Chancellor George Osbourne's announcement in his Mansion House speech, Mr Geiringer said: "I suppose there was nowhere else to go but the Bank of England (BoE) as the insurers' regulator on the basis that firstly it was the Board of Trade, then the Department of Trade then the DTI and then HM Treasury so it is the BoE's turn.
"Scraping the FSA for banks is right but the case is not made for insurers. Regulators always say no one size fits all but here the BoE's new Prudential
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