Profile: David Strachan
The FSA's head of financial stability would seem to have his work cut out for him. He talks to Alexander Campbell about new rules that should safeguard against future bank failures
The upheaval in the financial markets, and the associated plight of many banks, is forcing lawmakers to act. The UK government, for one, is preparing for a radical change in its approach to failing banks. David Strachan, head of financial stability at the Financial Services Authority, the UK's regulator, says of the new system, which was devised in the wake of the collapse of Northern Rock and is set to come into force in April next year: "It will be very different. At present, putting a bank
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