H.M. Treasury

I can confirm that the Government will abolish the tripartite regime, and the Financial Services Authority will cease to exist in its current form.

With that statement George Osborne and the new UK government move rapidly to refocus the responsibilities for regulation of financial services, as promised.  This will not be welcome news the British bankers but it is a good thing for banks because it places the risk assessment banks with bankers (at the Bank of England).