Page last updated at 14:08 GMT, Thursday, 27 August 2009 15:08 UK

Watchdogs warned to 'be careful'

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The chairwoman of the British Bankers' Association has supported calls for better regulation of the industry.

But Angela Knight told the BBC that the regulators had to be careful of driving business away from the UK.

It follows comments by Lord Turner, head of the Financial Services Authority, to Prospect magazine, saying that the financial services sector had "grown beyond a socially reasonable size" and curbs needed to be made.

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