Consultancy demands amendments to Financial Services Bill

The company says the Bill is unconstitutional and gives sweeping powers to the FSA. In response, it has launched a campaign to prevent the upper house from passing the Bill as it stands, ahead of its second reading next week. The Financial Services Bill was introduced to the UK parliament to provide a stronger regulatory framework in the wake of the financial crisis and provide greater rights to consumers. But Ignacity says the Bill in its present format gives far too much power to the FSA, enabling the regulator to change the entire financial sector without recourse to Parliament ...