The Financial Services Authority is to get new powers that will allow it to seize data from hedge funds.
The City regulator will receive its new remit in proposed legislation outlined in the Queen’s Speech today.
Ministers believe that changes to the regulator’s remit will be crucial in tackling any future financial crises.
Crucially, the Bill will include a requirement for banks to produce “living wills” to assist regulators in the event of an institution collapsing.
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