US Regulator Says Large Providers May Hold Sway with FSA

FT Adviser
June 6,2012

Jordan A. Thomas explains the delicate situation of U.K. regulators

Jordan Thomas, now a partner at US-based law firm Labaton Sucharow, believes as the FSA has no accountability, there is a danger the organization cannot do the "checks and balances" that are needed. He said: "Although they are operating in good faith, there is danger that they may have been improperly influenced by institutions and that can be particularly challenging because the financial district has a high concentration, albeit a small number, of major players."