New regulatory bodies need more power, says Sants
If it is to succeed in its goals, the new UK financial regulatory system will need to wield more power than the existing regulator.
That was the message from Hector Sants, chief executive of the Financial Services Authority (FSA), who outlined the progress that had been made towards the new regulatory structure during a speech at Reuters in London.
Earlier this year, the Chancellor announced the Government's intention to create three new regulatory entities: the Prudential Regulation Authority, the Financial Policy Committee and the Consumer Protection and Markets Authority (CPMA), with brokers expected to fall under the
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