Editorial: FSA takes power

The UK's Financial Services Authority has issued a consultation paper that includes provision for the regulator to step up the pace and have the power to intrude.

Richard Jory
Richard Jory, Editor of Structured Products

The fear that financial regulators would finally blow their top and grant themselves far-reaching powers has proved well founded. No sooner had the European Commission finished drafting a consultation paper that included such powers than the UK Financial Services Authority (FSA) promptly followed suit. The FSA opened a consultation on January 25 that proposes granting one of its successors - the Consumer Protection and Markets Authority (CPMA) - a remit to intervene in and investigate investment

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