Alistair Darling has revealed he will shortly publish a report on the reform of financial regulation, which will propose increased powers for the regulator.
The Chancellor said the paper would propose increasing the transparency of the financial sector by putting together a single set of accounting rules, as well as regulating all important institutions, including hedge funds.
He said: "We are acting to protect and support consumers, as well as improving competition in the financial sector."IFAonline
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