Watchdog tells MPs plans to allow ministers to amend regulations would dent UK’s reputation
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The bosses of the UK’s City watchdog have said that its independence and international reputation could be undermined if ministers introduce controversial “call-in powers” allowing them to intervene in financial regulation.
Richard Lloyd, interim chair of the Financial Conduct Authority (FCA), told parliament’s Treasury committee: “Even if it is used very sparingly … the perception that comes with the ability of ministers to direct independent regulators clearly will go to undermining our independence.
Watchdog tells MPs plans to allow ministers to amend regulations would dent UK’s reputationUK politics live – latest news updatesThe bosses of the UK’s City watchdog have said that its independence and international reputation could be undermined if ministers introduce controversial “call-in powers” allowing them to intervene in financial regulation.Richard Lloyd, interim chair of the Financial Conduct Authority (FCA), told parliament’s Treasury committee: “Even if it is used very sparingly … the perception that comes with the ability of ministers to direct independent regulators clearly will go to undermining our independence. Continue reading…
