Consultation paper outlines implementation of FSA abolition pledge

The government has published its plans to scrap the FSA and overhaul financial services regulation.

A consultation paper, published this morning by the Treasury, invites views on:

  • giving the Bank of England powers over macro prudential regulation through a newly established Financial Policy Committee, to be established on an interim basis from Autumn 2010.
  • establishing a new prudential regulator under the control of the Bank of England headed by a new Deputy Governor (which will be responsible for supervising the safety and soundness of individual financial firms.
  • creating a new Consumer Protection and Markets Authority (CPMA) to act as a single integrated regulator focused on conduct in financial markets

The consultation will close on 18 October 2010. For further details of the consultation paper keep logging onto Insurancetimes.co.uk.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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