FSA might 'survive'; Commission to investigate bank break-ups

However, it is not all good news for the banking sector as an independent commission will consider breaking up big banks, which combine retail and investment banking arms. It will report back within a year, the Financial Times reports. Tory officials admitted last night the FSA could survive the planned shake-up of banking regulation. However reports suggest the independent commission will be made up of senior directors from the FSA, as well as the Bank of England and independent experts. It will have powers to intervene over the head of the regulator if it decides there is too muc...