View the article online at http://citywire.co.uk/new-model-adviser/article/a646844
Financial Services Bill receives Royal Assent
by Daniel Grote on Dec 19, 2012 at 14:57
The Financial Services Bill, which will see the Financial Services Authority disbanded and replaced with new regulators the Financial Conduct Authority and Prudential Regulation Authority, has received Royal Assent.
The bill has now become an act of parliament, and will come into force on 1 April 2013. Financial secretary to the Treasury Greg Clark said the act would help to strengthen UK financial services regulation.
'The Financial Services Act replaces a regulatory structure which palpably failed when tested by crisis,' he said. 'It sets out a comprehensive regulatory framework designed to enhance financial stability in the future and protect consumers.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.
More about this article:
by Jun Merrett on Jul 22, 2014 at 14:38