New UK Finance Regulator Won't Bring Back 'Light Touch' Era

Law360, New York (October 22, 2012, 1:52 PM EDT) -- U.K. banks and insurers will soon face an intensive and focused supervisory regime that will avoid both the so-called light touch and broadly intrusive approach employed by its predecessor, the incoming head of the country's new prudential regulatory agency said Monday.

At an appearance in London, Andrew Bailey, a leading candidate to head the U.K. Prudential Regulation Authority beginning April 1, said that the new agency will follow the "intrusive and invasive" supervisory approach adopted by the U.K. Financial Services Authority following the financial crisis....
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