Tag Archive: powers
FSA launches FCA approach document
The Financial Services Authority (FSA) has today outlined the approach of the Financial Conduct Authority (FCA), which it says will be “tougher, bolder and more engaged with consumers”. The FCA will assume responsibility for protecting consumers and for markets’ regulation … Read more
Banks to be exposed on £1m plus pay deals
The Walker Review is recommending that banks should be forced to make public the number of their employees paid over £1 million per year, although no individuals will be named. The review, commissioned by the Government to improve the corporate … Read more
BoE Governor takes on Chancellor over regulation
The Governor of the Bank of England says he needs more powers if the Bank is to tackle its new role of overseeing financial stability. At odds with Chancellor of the Exchequer Alistair Darling’s address at last night’s Mansion House … Read more
Banking Code to have statutory powers
New measures announced by prime minister Gordon Brown at yesterday’s State Opening of parliament mean that the voluntary banking code currently overseen by the British Bankers’ Association will be replaced by a statutory code. The reform will expose banks and … Read more
New powers for Pensions Regulator as buy-outs surge
A recent surge in the acquisition of pension schemes has prompted the Government to install new powers in the Pensions Regulator. Trustees of company pension schemes have become increasingly keen to offload the responsibilities and balance sheet liabilities of company … Read more