MPs call for FCA to break up
MPs say regulator is "outdated and unfair" and merits re-examination.
The Financial Conduct Authority (FCA) should be split in two so one unit can supervise and the other can prosecute, a Treasury select committee recommended.
Supervision and prosecution of the industry lies with the Financial Conduct Authority.
But in a wide-ranging report that focuses on lesson for the FCA, the MPs said the current system was "outdated and can be construed as unfair".
Review
The MPs said splitting the regulator in two "merits re-examination".
The call for the spilt was in response
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