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Could he create a regulator that might conform with the charter's principles and gain recognition?
It is aiming to create a regulator that meets the criteria for independence and effectiveness set out in the royal charter.
Most Republicans object to a new freestanding regulator with broad authority, while most Democrats back proposals to create a regulator that can operate with substantial independence.
It will create a regulator to promote better management of schemes and an insurance pool to bail out those that fail anyway.But insurance cannot cover risks that have already materialised.
The alternative royal charter, presented by Miliband and Nick Clegg, would create a regulator with greater independence from the industry; it would have more powers to investigate complaints; and it would be able to instruct on the prominence of apologies in newspapers while, crucially, the charter would be enshrined in legislation.
The push to create a regulator with a mandate to protect consumers from predatory lending practices and other financial wrongdoing has been one of the main points of contention between the two parties as they debate legislative proposals to respond to the lessons of the financial crisis.
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"If I were them I would be looking over my shoulder at the various incipient brand-name coalitions that seem to be coming together to create a regulator-blessed U.S. exchange," the investor said.
Instead it created a regulator that was packed with political appointees.
Others would like us to create a rival regulator.
That proposal called for the European Commission to create a centralized regulator with the power to intervene in national telecommunications markets.
Yet another proposal would, for the first time, create a national regulator for insurance companies, an industry that state governments now oversee.
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