FSA has written to CEOs explaining how it will transition to the new regulatory structure. The letter says the changes will begin on 4 April, when a new Consumer and Markets Business Unit will replace FSA’s current Supervision and Risk business units. The existing units will be managed until 4 April by Rosemary Hilary and Lyndon Nelson. The letter, from Hector Sants, stresses that FSA is not already moving to twin peaks regulation, although it will have to reprioritise its work plan. (Source: Dear CEO letter)