FSA appoints new senior adviser after Rock fiasco

The Financial Services Authority (FSA) in Britain has appointed Naguib Kheraj as senior adviser to the newly created Supervisory Enhancement Programme (SEP).

The former group finance director of Barclays Bank will head the new entity, which was established to implement the recommendations made by an internal review of the way the Northern Rock crisis was handled by the regulator.

The programme will concentrate on the regular review of all high-impact institutions' liquidity provisions and the

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