UK regulators back tough action on banking sector competition

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The UK's new twin-peaks regulators will implement a range of measures in an attempt to dilute the concentrated British banking sector, including the possibility of breaking up large banks, according to Adair Turner, chairman of the Financial Services Authority (FSA), and Martin Wheatley, chief executive-designate of the Financial Conduct Authority (FCA).

Speaking today at a session of the UK's Parliamentary Commission on Banking Standards, both outlined possibilities for encouraging greater

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