The Financial Services Authority has been disbanded as at April 1st and has been replaced by two new organisations – the Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority (“PRA”).
The FCA has promised to be focused much more on consumers and the conduct of financial firms . The PRA . The new Prudential Regulatory Authority is a subsidiary of the Bank of England with responsibility for ensuring effective regulation of firms that manage complex risks on their balance sheets.