FSA internally divided
The Financial Services Authority has divided its internal structure into two shadow organisations ahead of the implementation of the regulatorís twin peak model.
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.
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