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In practice, what are the main differences between the regulatory approach adopted by Financial Conduct Authority and Prudential Regulation Authority and that adopted by Financial Services Authority?

Rather than being substantive, the differences they have seems to be more about rhetoric. For example, it seems that the old approach and the new approach are both based on risk.

  • Do you mean 'what are the differences in substantive law underpinning the old and new regulators', or are you asking how they apply the rules in practical terms? The latter might be tending towards off-topic. – Flup Aug 11 '15 at 7:10

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