Instead of having a separate regulator just for banks, the new system creates one to prevent financial crises, the other to ensure good market conduct and consumer protection.
If Berlin doesn’t apply divisive rules that inflict pain on savers, expect cries of double standards from southern Europe.
The City has been plagued by financial disasters. Will the replacement of the Financial Services Authority with two new banking regulatory bodies be enough to stop the rot?
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If the UK Financial Services Authority (FSA) had been a dog, it would have been about 86 years old when it was put down on April Fool’s Day this year. Uncharitably, some say that the FSA, the lead regulator…
More of the same: the UK government’s banking reform bill is merely another capitulation to the banking lobby.
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Some four and-a-half years after the banking crisis that has resulted in massive public debt and a deep austerity program, the UK government has finally unveiled its Financial Services (Banking Reform…