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The new regulatory order: the demise of FSA confirmed - the Banking Commission established

The UK government has announced its radical reforms for the domestic regulatory system. This essentially implements the full plan announced by the Conservative Party before the general election and involves more dramatic changes than recent statements suggested. At the same time, the government has announced the terms of reference and membership for its ‘Independent Commission on Banking’.

To read a report on the demise of the FSA, the new institutional structure, the Independent Commission on Banking, the key issues arising and what this means for firms, please click here. The report also includes charts showing the new regulators and their roles; these charts also show the international agencies and the proposed changes to the institutional structure at the EU level.

This article first appeared in Law-Now, CMS Cameron McKenna's free online information service, and has been reproduced with their permission. For more information about Law-Now, please go to www.law-now.com.

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