1 April 2013 was a significant date for the UK regulatory landscape heralding a new regime in the UK which divided the Financial Services Authority (FSA) into two new organisations; the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Both regulators came into being promising forward-looking, judgement-based supervision and transparent decision-making. The FCA promised to be tougher and bolder, following a strategy of credible deterrence, by using its new powers of intervention and enforcement. 1 April 2013 does not seem so long ago but we have now reached the first anniversary of that date and in this video we provide some thoughts on that first year.
Charles Portsmouth has also written a more detailed article on life under the PRA and FCA for Thomson Reuters Accelus. Click here to download the full article.
ContactsSimon GallagherCharles Portsmouth
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