UK enters new regulatory landscape

Martin Wheatley
Martin Wheatley

The UK has formally replaced its troubled Financial Services Authority (FSA), with two new regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), together known as the ‘twin peaks'.

The FSA was criticised for its handling of the financial crisis, with then chief executive Hector Sants admitting in October 2007 that the regulator had failed to fully understand the full impact of tightened credit conditions on Northern Rock, a bank that failed amid runs du

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: