FSA's Turner unveils blueprint for reform

Lord Adair Turner, the chairman of Britain's Financial Services Authority (FSA), on Wednesday published proposals for fundamental regulatory overhaul of the financial system, which includes a shift in the approach of the industry watchdog, whose reputation has taken a bruising in the aftermath of the financial crisis.

Lord Turner advocated a raft of major changes in regulation to ensure that the global banking system "focused on serving the needs of businesses and households, not in taking ri