Rock action set for wider ambit
The scope of the regulatory response to Northern Rock will be much broader than originally anticipated, Alistair Darling, the British chancellor of the exchequer, said on Thursday.
The chancellor told British lawmakers that his proposals for reform, due to be published later this month, "are going to be far more wide-ranging than those anticipated even a few months ago."
"The changes I envisage will certainly affect the Financial Services and Markets Act, and almost certainly will lead to
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