Details Of Financial Authority – Exam Study Notes
Details Of Financial Authority
The government has replaced the Financial Services Authority (FSA) with two separate regulatory authorities in an effort to make the country’s financial system stronger and forward-looking.
Under the new twin peaks system, the ‘failed’ financial watchdog will now become The Financial Conduct Authority (FCA), an independent agency led by Martin Wheatley, and the Prudential Regulation Authority (PRA), an arm of the Bank of England headed by Andrew Bailey.
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