UK Financial Services Authority chairman Adair Turner said Thursday that the watchdog had a number of "thoughtful" discussions with the UK opposition Conservative Party about their plans for structural reform before they were announced.

Speaking to journalists following the FSA's annual public meeting, Turner said it would be "idiotic" to deny that the uncertainty caused by the proposals posed a challenge to the watchdog in keeping its focus in the period up to the next UK election, due by June 2010.