Moneybox

[EXC]

On BBC Moneybox today 12.04 Radio 4.


Banking regulation




BBC Radio 4's Money Box Saturday, 25 April 2009 at 1204 BST On Radio 4 and Online

Current and savings accounts run by banks and building societies are to be regulated by the City watchdog, it has been announced.

At the moment they operate under voluntary rules known as the Banking Code.
But from 1 November the FSA will take over with a new set of rules and the ability to fine banks that do not comply.
We ask FSA retail managing director Jon Pain why he has decided to impose FSA rules on the banks.

Plus we speak to Eric Leenders of the British Bankers' Association and Adrian Philips from the Financial Services

[Guest]

Re: Moneybox

Proof, if any were needed, that bankers cannot be trusted to regulate themselves. I wonder if Angela Knight will get to keep her job since the BBA will be less important now?

Of course, this presupposes that the FSA will be any better and their record in this department is hardly 100%.

[righty]

Re: Moneybox

I think the FSA just might try to redeem themselves by coming down harder than they normally would have - bet their performance comes under considerable scrutiny this time, but we'll just have to wait & see

[ROBSTER]

Re: Moneybox

I would like to see John Fingleton at the head of FSA rater than a "tame banker" like James Crosby Now departed) for example.