All change… maybe for the better

Public spending strictures and structural reform of the agencies that fight financial crime: not a happy combination, says Natalie Roberts of Lawrence Graham LLP.

Natalie Roberts (Natalie.Roberts@lg-legal.com) is a dispute resolution solicitor at Lawrence Graham LLP

Chancellor of the Exchequer, George Osborne, is set to reverse the UK regulatory system set up by Gordon Brown in 1997: he intends to abolish the tripartite system involving the Bank of England, the Financial Services Authority (FSA) and HM Treasury, and to transfer financial regulation back to the Bank.