FSA urged to take on retail banking regulation

John Tiner, who leaves the UK's Financial Services Authority (FSA) today after four years as chief executive, told an annual meeting that the oversight of retail banking should be consolidated, as the reasons that had led to a separate code were no longer valid.

At present the retail banks operate under a self-regulation code of best practice known as the Banking Code. "Consumers on the high street expect to be protected by the FSA," said Tiner, adding that he would "put the [Banking} Code ins