FSA insists regulatory overhaul remains on track

FSA chief executive Hector Sants

The regulator is gearing up to split into the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

And, according to the FSA's annual report for 2011/12, this process is on course following the ‘successful transition' to an internal twin peaks model.

Outgoing chief executive Hector Sants said: "Despite a challenging environment we have successfully moved to an internal twin peaks model within the FSA from April 2012, maintaining the momentum required to deliver the

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