FSA heads push back on regulator's abolition
Chairman and chief executive of the UK regulator say decision to break it up is ill-timed
Adair Turner, chairman of the UK Financial Services Authority (FSA), has questioned the wisdom of the decision to eliminate the agency, saying that it would make the regulator's job harder in the continuing market uncertainty. At Thursday's annual FSA press conference, Turner said he would have restructured the agency as opposed to implementing the new regulatory framework, which will be headed by the Bank of England.
"If I was starting from a greenfield site I might well be in favour of the
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