UK’s Wheatley outlines steps toward new regulator

Martin Wheatley

The creation of the new Financial Conduct Authority (FCA) in 2013 will allow both regulators and market participants the opportunity to ‘start afresh' with standards of conduct in financial services, according to Martin Wheatley, chief executive-designate of the FCA.

The FCA is due to be phased-in next year as part of the so-called ‘twin peaks' approach to regulation in the UK, alongside the new Prudential Regulatory Authority (PRA), which will be part of the Bank of England. While the PRA will

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