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ARTICLE · 25 MARCH 2011

Financial Regulatory Reform In 2011

Barlow Lyde & Gilbert LLP
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The Government published last month its latest consultation paper on the proposed reforms to the UK’s financial regulatory landscape, entitled "A new approach to financial regulation: building a stronger system" (the Paper).

United KingdomFinance and Banking
Rupert Connell
Rupert Connell
Adam Blair
Adam Blair
Chris Brennan
Chris Brennan
James Cooper
James Cooper

The Government published last month its latest consultation paper on the proposed reforms to the UK's financial regulatory landscape, entitled "A new approach to financial regulation: building a stronger system" (the Paper). The Paper sets out the next stage of the Government's thinking based on the results of its July 2010 consultation and ongoing policy development being carried out by HM Treasury, working alongside the Bank of England (BoE) and the Financial Services Authority (FSA).

Consultation responses

To recap the basic agenda, the reforms focus on three key institutional changes. First, a new Financial Policy Committee (FPC) will be established within the BoE, with responsibility for macro-prudential regulation of the financial system as a whole. Second, a new subsidiary of the BoE will be the Prudential Regulation Authority (PRA), which will be responsible for microprudential regulation of certain financial institutions that deal with substantial risks

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