Financial Services Bill

Even as it stands at the minute, with the registration and regulatory functions attached to the FSA in Great Britain, they are technically two different functions carried out by separate people, albeit within one organisation. They are separate functions and the one thing that the credit unions in Northern Ireland would like is continuity in the devolved relationship. That is why people like the idea of the registration function—but only the registration function—remaining with the Department and all the regulation going to the FSA.