The Tories would transfer UK financial regulation to the Bank of England within a year of taking power, the shadow financial secretary to the Treasury says.
Mark Hoban countered suggestions the Conservatives were getting cold feet about the planned reforms, which rest on breaking up the City regulator and giving more power to the Bank.
"We want the Bank to take responsibility for macro and micro prudential supervision in the first year," Hoban told the Financial Times.
The plan has faced considerable resistance in the City in the seven months since it was proposed by George Osborne, the shadow chancellor.
Critics oppose a large-scale restructuring when the financial services industry is facing increasing international regulatory changes and still recovering from the crisis.
Hector Sants, the outgoing FSA chief executive who resigned on Wednesday, also opposed the Tory plan, believing there should be a single financial services regulator.
But Hoban said while the Tories would not "take the foot off the pedal" in regards to reform, a Conservative government would not move on day one to change the nameplates at the FSA. It was far more important to ensure "substantive, not just cosmetic, change".
He conceded the planned Consumer Protection Agency, which would take on the FSA's customer-related work, could add to the cost of regulation for financial services.
But he added on balance the industry accepted the need for people working for the regulator "who understand what they do and they understand there is a cost to that."
Hoban said the Conservatives would move first to transfer banking supervision to the Bank. It was also essential to maintain the impetus for more invasive regulation, he said.
"We want to move away from a situation where the FSA is cleaning up the mess after it happens. That does require a more intrusive approach," Mr Hoban added.
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