New broker regulator gets backing from FSCS

A HM Treasury sign

These two organisations will replace the current regulator, the Financial Services Authority in 2012.

Mark Neale, FSCS chief executive, said: “We welcome today’s announcement which we believe is good news for consumer compensation and are pleased that the Treasury has given the FSCS a dual accountability to the FCA and the PRA.

“This reflects the need for a single integrated compensation scheme for the highly integrated UK markets, and follows the views we expressed to the Treasury Select

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