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ARTICLE · 05 MARCH 2012

The End Of The FSA

Clyde & Co
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This article continues the series on financial regulatory reform that was first published in the October 2010 edition of Corporate Focus. Growing public antipathy towards the conduct of the financial services industry, together with a perception that the UK’s ‘light touch’ regulatory regime was no longer fit for purpose, has contributed to the coalition government’s decision to pursue radical change.

United KingdomFinance and Banking
Richard Britain
Richard Britain
Trefor John
Trefor John
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This article continues the series on financial regulatory reform that was first published in the October 2010 edition of Corporate Focus. Growing public antipathy towards the conduct of the financial services industry, together with a perception that the UK's 'light touch' regulatory regime was no longer fit for purpose, has contributed to the coalition government's decision to pursue radical change. A White Paper published on 16 June 2011 contained a draft Financial Services Bill which provides for substantial amendments to the Financial Services and Markets Act (FSMA) 2000, the Bank of England Act 1998, and the Banking Act 2009. The Financial Services Bill is currently receiving its second reading in Parliament, and is expected to be passed at the end of 2012.

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