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Financial Services Authority

Volume 301: debated on Thursday 27 November 1997

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25.

To ask the Chancellor of the Exchequer what assessment he made of financial regulation in other countries when drawing up his proposals for the new Financial Services Authority. [16609]

The Government are aware of the approaches to regulation taken in other countries but are working to develop the best solution for the United Kingdom. Our plan is for a modernised and harmonised system of financial regulation based around a single regulator, the Financial Services Authority. The reforms will make the United Kingdom a world leader in financial regulation.