ABI warns of dual regulation threat after FSA split

It has called for co-ordination between the new Prudential Regulation Authority and the Financial Conduct Authority to ensure minimal regulatory overlap for the insurance industry. The trade body's comments come in response to the Treasury's consultation A New Approach to Financial Regulation. Otto Thoresen, ABI director-general, says: "It is vital that the new Prudential Regulation Authority and Financial Conduct Authority do not duplicate activities. "Without clear co-ordination and sharing of information, firms could suffer the unnecessary cost of having two overlapping regulato...