FPC

Former chairman of the Investment Management Association (IMA) and previous chief executive of F&C Asset Management Robert Jenkins has been appointed as an external member of the interim Financial Policy Committee (FPC).

The UK banking sector faces a further shake-up as the BoE's Financial Policy Committee (FPC) recommended an audit on banks' exposure to eurozone debt, as well as recommending cuts in dividends and bonuses.

Mervyn King has claimed low capital requirements and inadequate limits on leverage have been the most "tragic" aspects of financial regulation.