UK lawmaker laments lack of chief regulator

John McFall, chairman of the Treasury Select Committee which published its comprehensive report on the Northern Rock crisis at the end of February, reiterated his suggestion that the lack of a central figure in charge of Britain's tripartite regulatory system played a major role in the crisis that first beset the bank last September.

At a meeting in the City of London organised by the Centre for the Study of Financial Innovation, he reiterated his calls for the creation of a new post of deputy

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