THE FIRST OFFICIAL review of the Financial Services Authority since it was created will be announced today by the Treasury's Economic Secretary, reports The Times .
According to the paper, Ed Balls, Gordon Brown’s leading lieutenant, will announce an inquiry into the FSA’s operation by the National Audit Office during a City seminar also due to be attended by Sir Callum McCarthy, the regulator’s chairman. It is understood the NAO will be asked to examine the FSA’s record and effectiveness as the chief City regulator. A review by the audit office will cover five areas of the FSA’s activities, including its internal performance management; its effectiveness in liaising with other UK organisations; its international influence and representation; and it...
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