Headlines: June 5th, 1998

The future of financial regulation in Europe has been tackled by the new Financial Services Authority.

Fresh from assuming responsibility from the Bank of England for the supervision of banks, the FSA set its sights on ensuring it works closely with the wider European control mechanisms for financial regulation.

At a conference Howard Davies, Chairman of the FSA, welcomed the opportunity to engage in active debate EU decision-makers, regulators and those involved in the industry with a view to greater collaboration.

Senior delegates from both international and UK regulators along with representatives from the Treasury, European Commission and delegates from trade associations, consumer groups and chief executives and chairmen from a cross-section of UK regulated firms attended the conference.

The programme focused on what developments in Europe will mean for regulators, industry and consumers in Britain, plus practitioners’ perceptions and expectations of the new regulatory regime in the UK.