One of the lawyers involved in creating the Financial Services Authority yesterday savaged the watchdog's disciplinary system, saying that it had a "win at all costs mentality".
Angela Hayes, now a partner with law firm Lawrence Graham, and formerly one of the team of lawyers who advised on how to implement key parts of the Financial Services and Markets Act that created the FSA, said the watchdog was set to duck an opportunity to bring in "root and branch" reform. The watchdog is preparing to announce the results of a wide ranging review of its disciplinary system.
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