The UK financial market has been severely affected by the recent financial crisis. The crisis has
exposed weaknesses in the supervisory framework as well as that for crisis management and resolution.
This paper reviews the supervisory and regulatory framework and the many reforms that have already been
adopted to remedy these weaknesses. It also provides recommendations for further reforms. This Working
Paper relates to the 2009 Economic Survey of the United Kingdom (www.oecd.org/eco/surveys/uk).
