FSA reveals next stage in ‘radical’ overhaul

The Financial Services Authority has unveiled a fresh operational structure
as part of efforts to overhaul its work in the wake of the credit crisis.

Chief executive Hector Sants said: ‘This new structure completes the radical
internal reforms that I initiated when I became CEO in July 2007.’

The FSA’s financial stability unit will be turned into its own division to
concentrate on macrp-prudential issues.

A new international division is to be created to improve communication with
overseas regulators.

Another new division will be launched by bringing together enforcement and
financial crime units to beef up deterrence.

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