The industry body that ensures the Financial Services Authority takes account of regulated companies' interests is predicting this year will mark a "watershed" for the market's views of the regulator's performance and the UK's position on the international stage.

The Financial Services Practitioner Panel, which comprises participants from across the UK's financial sector and acts as a point of contact for the securities industry in its dealings with the country's financial markets regulator, revealed the prediction in its latest annual report, published today.