UK government extends Davies' term at FSA

UK - The UK government on Wednesday said it had extended the term of Sir Howard Davies as head of its chief financial regulator until January 2004, ending speculation that he may stand down to move to the Bank of England.

Gordon Brown, the UK finance minister, said that Sir Howard's term as chairman of the Financial Services Authority had been extended by 18 months until January 31 2004.

Sir Howard's initial five-year term expired in July.

The FSA took on primary responsibility for regulating th

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