MPs criticised the FSA for its handling of regulation during the credit crunch and accused it of being "asleep at the wheel", but he has also been praised for his work at the regulator and for pressing banks to boost their reserves.

BBC: Sir Alan Budd and Hector Sants on New Year Honours list

The return of IPOs, put on hold as the market regulator tries to weed out weak candidates, could boost earnings at companies such as Citic Securities.

WSJ: Asian Brokers Benefit From Rising Stock-Trading Volumes

Lloyds has said that following discussions with the banking regulator, the Prudential Regulation Authority, it does not need to sell new shares to boost its capital resources and enhance its ability to absorb future losses.

BBC: Lloyds and RBS 'won't be further nationalised'