A sweeping shake-up of banking regulation has met with a cool reception from City lawyers with doubts raised about the move to largely abolish the Financial Services Authority (FSA). The overhaul, which was announced last night (16 July) by Chancellor George Osborne at the annual Mansion House speech, will see a major increase in power for the Bank of England, which will take on a new remit to police market risk.
June 17, 2010 at 10:23 AM
1 minute read
The original version of this story was published on Legalweek
A sweeping shake-up of banking regulation has met with a cool reception from City lawyers with doubts raised about the move to largely abolish the Financial Services Authority (FSA).
The overhaul, which was announced last night (16 July) by Chancellor George Osborne at the annual Mansion House speech, will see a major increase in power for the Bank of England, which will take on a new remit to police market risk.
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