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Is there a need to replace the FSA?

The Financial Services Authority (FSA) is coming under more and more pressure with many people, businesses and politicians concerned that the U.K.'s leading regulator is not up to the job. There have been many instances over the last few months when the FSA has appeared to act after certain events continuing a line of reactive rather than proactive occurrences. So is there really a need to replace the FSA?



While the Conservative party has already indicated that the FSA would be stripped of much of its power if the party does win the next election, there are some who believe this is a step too far. In many ways the FSA oversees too many areas of the UK economy and UK financial arena and has become a "jack of all trades but master of none". The UK government has spent a lot of time and effort in nurturing and expanding the FSA, but will the regulator be cut down to size by a possible incoming Tory government?



Whether or not the FSA would be closed down, if the Conservative party came to power, remains to be seen but there are many who believe changes need to be made in the UK regulatory arena as a whole.

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