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ABI reaction to draft Financial Services and Business Bill

Responding to details of the draft Financial Services and Business Bill, Peter Vipond, the ABI's Director of Financial Regulation, said:

"Enhancing the FSA's powers, so long as they are accountable, will be of real benefit - especially the ability to act at short notice. It is equally important to make sure the powers are exercised in conjunction with those of the Bank of England."

"The promise to take action to retain the UK as a leading financial centre is a welcome pledge. This is a crucial juncture for the reputation of the UK and the expected future wave of regulation, if handled badly, could do the UK economy real harm. This pledge to retain competitiveness should also influence corporate and personal taxation and wider business policy."

Last updated 01/07/2016