Prudential Regulation Authority: the future approach to banking supervision

Hector Sants, FSA chief executive and PRA chief executive designate, said:
"The PRA's purpose is fundamentally different from that of previous regulatory regimes and will lead to a significantly different model of supervision to that which was in use pre-2007. In designing this new model we have incorporated both the lessons learned from the last financial crisis and those from firm failures of the past.

Press release