Financial Services Act. New archival evidence suggests that this policy represented a strategy to facilitate the Big Bang's globalization of Britain's financial sector through the creation of an unbiased, reterritorialized legal framework for the City of London. Yet political accountability for this regulatory system was rescaled to an obscure, quasi-governmental scale, so as to absorb any political backlash from future financial crises and insulate government legitimacy. This article thus contends that neoliberal state restructuring can be understood as the coalescence