The UK’s FSA watchdog on Wednesday announced a sweeping overhaul of the UK’s financial regulatory regime, marking a break with its previous “light-touch” approach. Lord Turner, FSA chairman, set out plans to force banks to hold more capital and increase their holdings of liquid assets and cash, and pledged to scrutinise any institution that threatened financial system stability. Gordon Brown, prime minister, will on Thursday urge other EU members to follow the principles in the Turner report at a summit in Brussels. See FT Alphaville’s ‘Turner Guide’ here.

This entry was posted by Gwen Robinson on Thursday, March 19th, 2009 at 4:56 and is filed under Capital markets, People. Tagged with fsa, lord turner. Edit this entry.