Truss’s mooted regulation merger plan derided
Former business secretary, Vince Cable, has attacked Liz Truss’s rumoured plan to merge the Financial Conduct Authority, Prudential Regulation Authority and Payment Systems Regulator.
Earlier this week the Financial Times reported that, if Truss becomes Prime Minister following the conservative leadership election, that she my look to merge the three watchdogs.
Cable told The Guardian that the plans were dangerous and that it would be a mistake to reverse the reforms made in 2013 when the three bodies were created from the ashes of the Financial Services Authority which had been found to be failing to properly regulate the banking sector.
Cable told the Guardian: “It is a
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