The FSA has outlined its timetable and intentions for dealing with the splitting of its responsibilities amongst several regulators.
Speaking to the All Party Parliamentary Group on Insurance and Financial Services, Lyndon Nelson, FSA director of risk management, said the regulator would internally reorganise for January 2011. This internal arrangement is expected to last a year, with a "tentative" date for the hand over to new regulators in June 2012. Nelson added the Government will be publishing a consultation paper on July 23. Nelson said: "In effect there are four possible locations for FSA functions. Potentially there will be transfers to the Bank of England, their risk management capabilities are not suffici...
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