Tories seek split of Davies' roles

THE OPPOSITION is to seek to overturn the decision by the Government not to split Howard Davies' roles as chairman and chief executive of the Financial Services Agency, the new City watchdog.

David Heathcoat-Amery, the Conservative spokesman on the Financial Services and Markets Bill, intends to table an amendment to this effect when the Bill goes to committee stage later this year. The Bill starts its second reading in the House of Commons today.

Mr Heathcoat-Amery said that the Conservatives do not intend to vote against the Bill or to prevent it being carried over into the next session.

"The Bill is already a year behind schedule. I do not intend to delay it further," he said.

However, he added that the Opposition was still concerned that the Government was in a muddle over the Bill, particularly with respect to the question of whether it conflicts with the European Convention of Human Rights which the Government is seeking to incorporate into British law.