FSA’s Sants Says PRA Should Have Power to Probe Banks, FT Says

May 18 (Bloomberg) -- U.K. Financial Services Authority Chief Executive Officer Hector Sants said the new regulator being set up to take over the supervision of large U.K. financial institutions in 2013, the Prudential Regulatory Authority, should be given the power to investigate bank failures and publish its findings, the Financial Times reported, citing an interview.

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To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.