The U.K. Parliament’s Commons Treasury Committee is urging the government to slow down its timetable for new financial regulations. The government, which has proposed eliminating the current tripartite system of the HM Treasury, Bank of England and Financial Services Authority as join regulators, wants legislation introduced by the middle of this year and completed by 2012. The committee, in a new report, says it is better to give more time to get reform right the first time rather than rush it to meet a deadline.