Be Very Afraid, Boss of Top City Watchdog Warns Managements [Edition 2]

Evening Standard - London › March 13, 2009

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Summary

PEOPLE should "be very frightened" of the City regulator, Financial Services Authority chief executive Hector Sants told the City today.

"There is a view that people are not frightened of the FSA. I can assure you that this is a view I am determined to correct. People should be very frightened of the FSA." Speaking ahead of this weekend's crucial meeting of finance ministers from the G20 developed countries, Sants made it clear that he was opposed to any idea of setting a massive European superfinancial regulator.

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Extract

Be Very Afraid, Boss of Top City Watchdog Warns Managements [Edition 2]

"We would be cautious about creating some form of monolithic supervisory organisation divorced from on-theg...

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