FSA is model of bad regulatory consolidation, US Senate told


The UK Financial Services Authority (FSA) is a good example of how not to consolidate several financial supervisors into a single prudential banking regulator, the US Senate has heard.

In a hearing before the Senate Committee on Banking, Housing and Urban Affairs yesterday on prudential bank regulation in the US, Martin Baily, a senior fellow in economic studies at the Brookings Institution in Washington, DC and former chairman of the Council of Economic Advisers, acknowledged failings by the FS