UK: financial regulation reform consultation - IoD response

The UK's Institute of Directors has offered its views on the proposed changes to the financial regulatory framework: see here. The IoD believes that it does not make sense to separate the UK Listing Authority from the regulatory body that will be responsible for regulating and supervising wholesale capital markets. The IoD also states that the Financial Reporting Council is "currently making an effective and independent contribution in its existing areas of responsibility. Consequently, until there is greater clarity in the overall financial regulatory structure, we do not advocate any changes to the position of the FRC in the regulatory system".