Britain’s Financial Services Authority plans to increase it oversight of banks and increase its staff by about 10% by 2010.
We do want to have a somewhat more intrusive approach to regulation, Hector Sants, chief executive of the FSA, told The Financial Times. The policy framework has failed us to some degree. But we need to understand that in addressing that, we will only be part of the process. What we absolutely should be doing is delivering an effective supervisory regime.”