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David Cameron needs to sort out the FSA as soon as possible

The Financial Services Authority (FSA) is currently in limbo with the UK government yet to confirm the future structure of the UK regulatory system for the financial industry. While there had been speculation that David Cameron would reduce the influence of the FSA, or even close down the authority, this appears highly unlikely but we still await confirmation from the UK government. As Chief Executive Hector Sants nears the end of his tenure at the FSA we saw the surprise resignation of Sally Dewar who was one name earmarked for top.

Unless the UK government clarifies the future position of the FSA we could see more executives reconsidering their positions within the authority. This comes at a time when the FSA has actually been more proactive and more successful with prosecutions than at any time in the recent past, and indeed its influence within the City continues to grow. It would be a crying shame if this hard work of the last few years was in any way compromised by the "vacuum" created by this air of uncertainty. While David Cameron is under pressure on a number of fronts the FSA is one issue which he needs to address sooner rather than later.

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