FSA: Financial firms worried about UK going it alone

Financial firms are concerned about the effect of the UK developing new financial regulation in isolation as it could harm the City of London’s competitiveness, according to a feedback statement from the Financial Services Authority (FSA) published on Wednesday.

The statement is the FSA’s response to the feedback it received on the Turner Review and an associated discussion paper in March.

The FSA says firms want an international approach to new regulation and policies. “Concerns were raised tha