U.K. Market Regulator May Release Meeting Minutes, Turner Says

Nov. 1 (Bloomberg) -- The minutes of board meetings at the U.K.’s new markets authority may be published, Adair Turner, chairman of the Financial Services Authority, told U.K. lawmakers today.

The Financial Conduct Authority may make minutes public “much like the monetary policy committee” at the Bank of England, Turner told lawmakers on a U.K. Treasury panel in London.

The practice would help “get away from the idea that there is one answer to a problem,” Turner said. “There are always trade-offs.”

The FSA, the U.K.’s financial regulator, will be abolished by the end of 2012 and replaced by at least two new authorities as part of an overhaul of market supervision. The FCA will have new powers to ban risky financial products or assert itself in how they are marketed, as well as to publish information about its disciplinary investigations earlier.

To contact the reporters on this story: Ben Moshinsky in London at bmoshinsky@bloomberg.net;

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net