BBA welcomes Financial Services Bill

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BBA welcomes Financial Services Bill

Mon 30th Jan 2012

The British Bankers' Association (BBA) has announced its support for the government's new Financial Service Bill, which was published on Friday (January 27th).

BBA chief executive Angela Knight said the new bill will deliver an effective, supportive and proportional framework for the regulation of financial services across the UK in the future.

However, it is vital that every individual working in the sector embraces this opportunity to ensure they are always working in the best interests of their business, their shareholders and all their customers.

She added: "There are still many issues to work through and we will continue working with government so the new structures, as they emerge, help supervisors improve their decision-making."

The announcement follows predictions by Tony Dolphin, senior economist at the Institute for Public Policy Research and associate director for economic policy, who claimed upcoming data is likely to show the UK to have fallen back into a technical recession in the first quarter of 2012.

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