Possible future for FSA, despite Tory promise
The Financial Services Authority (FSA) is likely to survive despite the Tory pledge to abolish the financial watchdog.
Conservative officials admitted last night that new Chancellor George Osborne may be forced to dilute plans to hand over sole responsibility for regulation to the Bank of England.
While the Bank of England will reportedly have overall "oversight", the Liberal Democrats have strongly opposed it having the authority to regulate individual banks.
Liberal Democrat Vince Cable, who has been given control of "business and banking", will head up an independent commission to consider the break up of
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