Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
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UK single regulator<br />
� Soon after May 1997 General Election the new Labour<br />
government announced creation of a single regulator<br />
(FSA) combining functions of nine previously existing<br />
regulators.<br />
� Justification <strong>for</strong> the FSA drew heavily on the <strong>Twin</strong><br />
<strong>Peaks</strong> analysis<br />
� But <strong>Twin</strong> <strong>Peaks</strong> was rejected in the UK in favour of a<br />
single integrated regulator<br />
� Financial Services <strong>and</strong> Markets Act 2000<br />
� FSA came into being be<strong>for</strong>e legislative enactment
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