FSA unveils transformation timetable
The face of the Financial Services Authority (FSA) will start its transformation at the start of next year.
As already announced by Chancellor George Osborne, the Government plans to break-up the current tripartite system of financial regulation by 2012. The Bank of England will be given a strengthened role and a Financial Policy Committee and two new regulators will be created – the Prudential Regulatory Authority (PRA), which will sit within the Bank of England, and the Consumer Protection and Markets Authority (CPMA).
Speaking at today’s (14 July, 2010) meeting of the All Party Parliamentary Group
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