FSA consultation kicks off with confirmation of 2011 revamp
The Financial Services Authority (FSA) has revealed it will begin its radical transformation at the start of next year as it launched a consultation into the shake-up.
As previously 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).
The Treasury launched its formal consultation on the plans, 'A new approach to
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