Poll: Should the FCA’s enforcement division be split out into an independent body?

MPs are calling for an independent body following several reports into the collapse of HBOS.

The Treasury committee says an “independent enforcement function” should sit between the FCA and the Prudential Regulation Authority.

It says the current system – where one body supervises, applies and prosecutes the law – is “outdated and can be construed as unfair”.

It continues: “Separation would allow all three regulators – the FCA, PRA and an enforcement body – to enjoy much greater clarity over their objectives.