The Financial Services Authority (FSA) said that the reorganization also takes account of the changing role of the authority in respect of international regulatory engagement, macro-prudential analysis and consumer financial education.

The changes will take effect from October 1, 2009 and will conclude the internal reforms the FSA has undertaken during the last two years, the FSA added.

Hector Sants, the FSA's CEO, said: "The new structure will underpin the radical changes we have made to our supervisory processes through the supervisory enhancement program (SEP). SEP was designed to deliver a significant increase in our supervisory resource and changes to the way we work, in particular for high impact or systemically important firms. The program is on track and will be completed by the end of this year."

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