Chancellor Alistair Darling does not plan fundamental reform of the structure of the system that regulates UK financial institutions.
Mr Darling has said that the current regulatory system is not to blame for the credit crunch, blaming instead the bosses of financial institutions.
He wants to improve the quality of the regulators and those who run banks.
There is currently a tripartite system, with the Treasury, Bank of England and Financial Services Authority (FSA).
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