Creating FCA and PRA to cost up to £175m
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority (FCA) could be between £115m-£175m.
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority could be between £115m-£175m.
In its White Paper, A new approach to financial regulation: the blueprint for reform, the government stated that taking account of the accommodation, IT and staff transfer expenses, the full cost to the Bank of England and the FSA of creating the PRA would be up £100m-£150m.
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