A New Approach to Financial Regulation:The End of the United Kingdom FSA

On July 26, 2010, HM Treasury published a consultation paper setting out far reaching reforms to the structure of financial regulation in the United Kingdom. The Consultation follows the announcement by the Chancellor of the Exchequer that the UK Financial Services Authority will be abolished, prudential supervisory powers returned to the Bank of England, and the ‘tripartite system’ of financial regulation brought to an end.