TaxPersonal TaxBill establishing FSA passed

Bill establishing FSA passed

The Financial Services and Markets Bill has at last cleared parliament this week after a 12 month delay - establishing the Financial Services Authority as the sole statutory financial regulator.

The Bill is also expected to have royal assent granted this week, after receiving 1,700 amendments and being labelled the most amended bill ever.

However the Tory party came just six votes short of blocking the bill over the issue of the role of the controversial Takeover Panel in policing market abuse during bids.

Government to confront Lords over finance bill

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