UK regulation after the breakup of the FSA
The UK's financial regulator, the FSA, is to split into two entities: the Prudential Regulatory Authority and the Financial Conduct Authority. There will be some overlap between these two bodies, which may lead to complications for dual-regulated firms, as Lista Cannon and Paul Adams discover
From April 2, 2012, the UK Financial Services Authority (FSA) began to replicate the proposed roles of the Prudential Regulatory Authority and the Financial Conduct Authority, the two agencies set to replace it next year under government regulatory reform plans, by subjecting banks, insurers and major investment firms to separate regulation for prudential and conduct purposes. The FSA intends to accelerate its move towards a bolder, more proactive and intrusive approach to regulation. At least
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