Here we go again...a new chapter in financial services regulation

Financial regulation has been regularly amended since the seismic change brought about by the original Financial Services Act in 1986, most notably by the Financial Services and Markets Act 2000 and a large number of European directives and UK regulations. This month’s most recent changes, now that sections of the Financial Services Act 2012 have come into force, are the most significant in more than a decade. The major change is that the government has created a new regulatory architecture, splitting out “prudential” and “conduct” regulation, as well as appointing the Financial Polic...