Critics push for FSA reform

The FSA is fighting for survival in the wake of a recent MP report critical of the regulator’s reforms and the revelation that it faces abolition if the Conservative Party comes to power in the next general election

The banking crisis has brought into sharp focus the role of the regulator and politicians in financial services and how those boundaries should be managed in future. The recent Treasury Select Committee inquiry concluded that “by any measure the FSA has failed dreadfully in its supervision of the banking sector”.