FSA Publishes Guidance on Transition to New Regulatory Structure
February 8, 2011
The Chief Executive of the FSA has released a letter to CEOs giving further details of the expected timing for the replacement of the FSA by two new regulators - the Prudential Regulation Authority and the Consumer Protection and Markets Authority. The transition is set to begin on April 4, 2011 and continue over a period of two years.
A follow-up letter will be sent out in April to give firms a clearer idea of where their current supervision will be placed within the new structure. Papers will also be published in the first half of 2011 on the new regulatory approach.