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10 March 2011 / Chris Warren-smith , Charles Golsong
Issue: 7456 / Categories: Features , Bribery , Regulatory
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The year ahead

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Chris Warren-Smith & Charles Golsong report on the proposed break-up of the FSA

The start of another year leads to musings about proposed developments at UK, European and global levels that may affect the financial sector in the next 12 months.

The government proposes to dismantle the Financial Services Authority (FSA), and split its responsibilities between three new regulatory bodies: the Financial Conduct Authority (FCA), originally proposed to be named the Consumer Protection and Markets Authority (CPMA), which will regulate day-to-day market and business conduct and activities, a Prudential Regulatory Authority, to be a subsidiary of the Bank of England for micro-prudential regulation, and the Financial Policy Committee (to be part of the Bank of England), responsible for macro-prudential regulation.

The government proposes to establish a single Economic Crime Agency (ECA) to prosecute financial crime, a task currently handled by multiple agencies including the Serious Fraud Office, the Office of Fair Trading and the Serious Organised Crime Agency. The Home Office has stated that it will be the lead department in

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MOVERS & SHAKERS

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DWF—David Abbott & Claire Keat

DWF—David Abbott & Claire Keat

Senior appointments in insurance services and commercial services announced

Clyde & Co—Nick Roberts

Clyde & Co—Nick Roberts

Aviation disputes practice strengthened by London partner hire

Ellisons—Marion Knocker

Ellisons—Marion Knocker

Residential property lawyer promoted to partnership

NEWS
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NLJ this week: Renters’ Rights revolution begins—brace for tribunal chaos
he abolition of assured shorthold tenancies and section 21 evictions marks the beginning of a ‘brave new world’ for England’s rental sector, writes Daniel Bacon of Seddons GSC
NLJ this week: Civil procedure gets a spring overhaul
Stephen Gold’s latest Civil Way column rounds up a flurry of procedural and regulatory changes reshaping housing, alternative dispute resolution (ADR) and personal injury litigation
NLJ this week: Why GP complaints are going nowhere
Patients are being systematically failed by an NHS complaints regime that is opaque, poorly enforced and often stacked against them, argues Charles Davey of The Barrister Group
NLJ this week: Prenups meet a jurisdictional brick wall
A wealthy Russian divorce battle has produced a sharp warning about trying to challenge foreign nuptial agreements in the wrong English court. Writing in NLJ this week, Vanessa Friend and Robert Jackson of Hodge Jones & Allen examine Timokhin v Timokhina, where the High Court enforced Russian judgments arising from a prenuptial agreement despite arguments based on the landmark Radmacher decision
NLJ this week: Has Rylands v Fletcher come back from the dead?
An obscure Victorian tort may be heading for an unexpected revival after a significant Privy Council ruling that could reshape liability for dangerous escapes, according to Richard Buckley, barrister and emeritus professor of law at the University of Reading
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