FCA to be tougher and bolder
The Financial Services Authority (FSA) has declared that its successor body, charged with conduct and markets regulation from the end of 2012, will be tougher, bolder and more engaged with consumers.
The regulator called for a debate on its document, the Financial Conduct Authority (FCA) - Approach to Regulation, which sets out how the FCA will deliver its objectives.
It added that with financial services sector causing billions of pounds of consumer "detriment" due to mis-selling scandals, the debate would seek to find consensus on the type of regulator needed to restore customer trust. The FSA asked for comments by 1 September 2011.
The move followed the government's recently published
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