On 26 July 2010, HM Treasury (“HMT”) published a consultation paper entitled “A New Approach to Financial Regulation: Judgement, Focus and Stability.”1
The consultation paper sets out the UK coalition government’s blueprint for the reform of the financial services regulatory structure in the UK, as previously announced by the Chancellor of the Exchequer, George Osborne MP in his Mansion House speech on 16 June 2010.2
These reforms will be far reaching and involve abolishing the Financial Services Authority (“FSA”) and transferring its current functions to four new regulatory bodies...
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