Radical UK regulatory proposals attract legal fire
UK Treasury proposals to give the incoming financial regulatory bodies greater freedom to act in public have drawn immediate criticism from London lawyers.
Under UK government proposals a new Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) would have the power to publicise the fact that a firm is under investigation.
At present, unlike its US counterpart the Securities and Exchange Commission (SEC), the Financial Services Authority (FSA) is forbidden from making any announcements about its investigations.
The...
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