FSA split as Britain switches to twin-peaks approach

FSA building

The UK Financial Services Authority (FSA), the universal financial regulator, is to be split in two, George Osborne, the chancellor of the exchequer, said on Wednesday.

Osborne used his Mansion House address to the most powerful figures from London's financial community to unveil his eagerly awaited plans for the FSA's future. These involve adopting the so-called "twin-peaks" model of financial regulation, where separate entities for prudential supervision, and the oversight of consumer protecti

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