Time for a tough regulator

The creation of a new financial regulator with an emphasis on prudence is welcome, says Emile Woolf

Regulation of the UK financial services industry is now entrusted to a new body with a new name and a new boss. Andrew Bailey, whose signature appears on your banknotes, took over as chief executive of the Prudential Regulation Authority, successor to the Financial Services Authority (FSA), on 1 April.

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