FSA internally divided

Robyn Hall

May 10, 2012

Martin Wheatley, chief executive designate of new regulator the Financial Conduct Authority said that the regulator had structurally divided itself internally into shadow organisations of the FCA and the Prudential Regulatory Authority ahead of the official division of the regulator. It is however still operating as a single organisation for the time being.

Wheatley added that implementation of the twin peaks model was still the better part of a year away.