UK government responds to industry criticism of regulatory restructure

The UK Treasury has responded to critics of its proposed reform of financial regulation who suggest that the planned structure lacks the checks and balances required for new bodies.

The British Banking Association (BBA), among other groups, has criticised plans for the new UK regulatory regime as part of a consultation process on the proposals. In a comprehensive response to the planned legislation, the BBA says that although it is "supportive" of the proposed structure, it still has numerous