Lamport Bassitt Solicitors - Legal News - Conservative plans for financial regulation 'may have been shelved'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Conservative plans for financial regulation 'may have been shelved' Plans for a new system to regulate the financial sector that were announced in the Conservative Party manifesto may have been shelved. The Tories have had to make a number of concessions so they can enter into an alliance with the Liberal Democrats in order to achieve a parliamentary majority since they did not achieve an outright victory on May 6th. Prior to the election, the political party revealed it intended to break up the Financial Services Authority (FSA). It proposed to hand the Bank of England (BoE) and its governor Mervyn King powers to control the balance sheets of all Britain's major banks and finance houses. In addition, it wanted to transfer the central bank powers of regulation over the broader financial regime. However, under the terms of a coalition deal, it is now thought that the FSA will remain intact and a new committee may be created comprising senior directors from the FSA, the BoE and independent experts. Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News