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UK lawmakers tell Reuters to respect independence of financial watchdogs

UK lawmakers tell Reuters to respect independence of financial watchdogs By the hand of Huw Jones LONDON (Reuters) – The UK Treasury should avoid whitewashing the independence of financial regulators by overburdening it with demands to change post-Brexit rules, UK lawmakers said on Tuesday. After leaving the European Union in full at the end of December, Britain can now write down its financial rules as it seeks to tighten competitiveness in London as a leading global financial center. Some shareholder groups have suggested that this could lead to lower standards, but a report by Parliament’s elected Finance Committee on Tuesday said regulators independent of political interference should be a key element of UK financial services regulation.

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