Tripartite responsibility 'overlap' needed

The report by the Financial Services Global Competitiveness Group, co-chaired by the Chancellor Alistair Darling and former Citi Chairman Sir Win Bischoff, recommended that the UK should periodically review its regulatory structures and look to lead the EU and global debates on the new regulatory architecture. It added: "As to the allocation of tasks between the FSA and the Bank of England (and whether different structures would have made meaningful difference to the current crisis), we support a greater degree of "productive overlap" on financial stability and prudential supervision betwee...