Following the Government's announcement regarding the future structure of UK financial services regulation, Xavier Rolet, CEO, London Stock Exchange Group said:
‘The London Stock Exchange appreciates this strong decision from the Government; the City was looking for leadership and certainty on the issue of financial regulation.
'We believe that the Bank of England is the right place for the macro-prudential regulation of the economy, the regulation of banking institutions and the oversight of balance sheet organisations.
'We support the formation of a dedicated Consumer Protection and Markets Authority, which we hope will work to re-build trust between consumers and the financial services industry.'