Photographer: Simon Dawson/Bloomberg

Britain Needs a New Bank Regulator, Report Says

  • Regulators’ failings over HBOS collapse show need for new body
  • Call by lawmakers comes in Treasury Committee probe into HBOS

Britain needs a new financial watchdog to punish wrongdoing in order to win public confidence, further reshaping a regulatory structure that was overhauled just three years ago, the U.K. Parliament’s Treasury Committee said.

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