FSA “superior” to US system

The UK regulatory climate is hailed as example to US in new report

The US is becoming increasingly concerned about the effect its regulatory system is having on the competitiveness of its financial services businesses and sees the UK’s regulator as “superior”, according to the outcome of a new report by McKinsey & Co commissioned by the office of the mayor of New York and the US Senate. New York has traditionally been the largest international financial centre but London’s regulatory position is helping to close the gap.