BoE to control FSA; Commission clamp-down on banks

However, it will also be a tough week for the banks as a major new report calls for an urgent shake-up of the sector, including stopping commissions to front-line staff. Osborne will say in his Mansion House speech that although the FSA will retain powers over individual banks and other finance sector organisations, the BoE will have lead authority, according to reports. Treasury sources say the move echoed similar developments to increase the power of central banks in America and France. Business secretary Vince Cable has also given the clearest indication yet Britain's leading ba...