Govt still considering FSA closure

Complete scrappage of the FSA was still being considered by the Treasury, the sources said, despite support for the regulator's continued existence from the Lib Dems, according to the Guardian. Osborne will strip the FSA of the majority of its powers in a shakeup of City regulation to be announced later this month. The Chancellor will use his Mansion House speech on 16 June to give the Bank of England the pivotal role in preventing a re-run of the financial crisis of the last three years. Government sources say Osborne will use his speech, one of the big set piece events of the fin...