The New UK Financial Services Regulatory Architecture
A Freshfields Bruckhaus Deringer Briefing
Article posted on 18 May 2012
Summary: The UK Financial Services Bill was published on 27 January 2012. It is the latest stage in the development of the proposed new UK regulatory architecture. The FSA will cease to exist in its current form. The Bank of England will be responsible for the regulation of systemic infrastructure. A new Financial Policy Committee of the Bank will be responsible for macro-prudential oversight of the financial system as a whole. A new subsidiary of the Bank, the Prudential Regulation Authority, will be responsible for ensuring the safety and soundness of deposit-takers and some other systemically important firms. A new Financial Conduct Authority will be responsible for regulation of firms conduct. [Reproduced with kind permission from Freshfields Bruckhaus Deringer]
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