UK: creating the Financial Conduct Authority - speech by FSA chief executive

The chief executive of the Financial Services Authority, Hector Sants, delivered a speech earlier this week in which set out his views on the regulatory improvements attainable with regard to consumer protection and markets through the creation of the new Financial Conduct Authority: see here. Mr Sants outlined the regulatory philosophy to be taken by the FCA and noted that "Good outcomes for society from regulation are less dependent on structure than the underlying regulatory philosophy and the quality of the judgements made".