New Model Adviser is for professional financial planners.

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.
6780.9 6792.24 0.17% 04:35

Financial Services Bill receives Royal Assent

4
Financial Services Bill receives Royal Assent

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.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.