Need help with my writing homework on UK’s Regulatory System. Write a 1500 word paper answering; The regulatory system of the UK went through a dramatic change in the recent past when the Financial Services Authority (FSA) was abolished in the wake of the current financial crisis. The credit crunch and the resulting economic downturn that both US and UK faced, therefore, prompted for radical changes to be made into the financial regulatory system. The proposed changes in the US financial system also indicate that there may be more powers to be given to the Federal Reserve System (FED) to effectively control the financial services industry. Similarly, the UK has given more powers to the Bank of England to improve its role as the supervisor of the Financial System by abolishing Financial Services Authority.
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