Following today's announcement regarding consumer credit, the OFT will work with the Government, FSA and other partners to help to design a model of FCA regulation that enhances strong protections for consumers in this market. Until any transition takes place, the OFT will continue to work hard protecting consumers and tackling businesses that fail to meet their legal obligations and the standards we expect of them. The OFT supports the Government's position on the FCA's competition powers and objectives and will build on its close working relationship with the FSA over the coming months to implement a new FCA framework that works well for consumers and the markets alike....Source OFT: OFT statement on Financial Services Bill - The Office of Fair Trading