FSA 'frustrated' at slow pace of regulatory change

Currently making its way through Parliament, the Financial Services Bill will formally split up the FSA into the Prudential Regulation Authority and the Financial Conduct Authority (FCA). Although the FSA has already set up a twin-peaks system to pre-empt the changes, Clive Adamson, the FSA's director of supervision within the conduct business unit, explained the feelings of bosses in Canary Wharf at the wait for the full powers to be handed to them. Speaking at a Marketforce conference on the future of life and long-term savings, he said: "It's fair to say that we're all somewhat fru...