MPs urge reform of UK financial regulation
Treasury Select Committee criticises current 'tripartite' system of regulation for its failings in the Northern Rock crisis, and recommends shift of power to Bank of England
A report on the run on Northern Rock has said that the episode was damaging to the regulators in charge of financial services, as well as the UK financial services industry as a whole.
The Treasury Select Committee of MPs in the UK Parliament has advised reform of the country's tripartite system of financial regulation following its investigation into the crisis. The tripartite system divides
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