Treasury aims to tackle aloof nature and expense of regulator
The Financial Services Authority (FSA) is too expensive, aloof and bureaucratic and does not protect consumers from regulatory failure.
That is the opinion of the Treasury Select Committee which has published a report into the Financial Conduct Authority (FCA) making a number of recommendations for the government to consider ahead of the drafting and publication of the Financial Services Bill later this year.
Commenting on the publication of the report, the Chair of the Treasury Committee, Andrew Tyrie MP, said: "We need a fresh approach to regulation.
“The plain fact is that the FSA did not succeed in protecting consumers from
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