UK government sets out new regulatory structure

Author: | Published: 16 Jun 2011

The UK Treasury has released policy proposals on the country’s new regulatory structure.

The UK Financial Conduct Authority (FCA) will be given a new primary duty to promote competition and the Prudential Regulation Authority (PRA) will have a statutory insurance objective.

The UK Treasury’s white paper and draft Financial Services Bill states that the FCA will be required to operate in a way that promotes competition, as long...