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20.
Mr. St. Aubyn
To ask the Chancellor of the Exchequer which (a) EU and (b) G8 countries have a single regulator responsible for every aspect of financial services. [16604]
Mr. Darling
Within the EU and G8 countries only Sweden presently has a single regulator for financial services.The Government's proposed regulatory reforms based around a single regulator, the Financial Services Authority, will therefore make the United Kingdom a world leader in financial regulation amongst the major financial centres.