What will be the impact of the FSA's split?

So the FSA is to be broken up. At the Mansion House dinner on 16 June the Chancellor announced details of the new system of financial regulation. The FSA is to be broken up and its responsibilities split between a Consumer Protection and Markets Authority (CPMA), a Prudential Regulatory Authority (PRA) (to be part of the Bank of England) and a new Economic Crime Agency. It seems likely that many of the FSA’s existing responsibilities (and presumably staff) will be moved to the CPMA. As well as having responsibility for consumer protection and market conduct the CPMA will maintain the FSA...