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Hand financial services responsibilities to regulators, MPs say

Financial services regulation is being run out of London after Brexit (Yui Mok/PA) An influential group of MPs has backed Government plans to transfer EU rules on financial services to UK regulators’ rule books. The Treasury Select Committee said that most of what was adopted into British law from European legislation during the transition out of the bloc should be handed to regulators. When the UK was a member of the EU, much of the country’s financial services regulation was based around Brussels. After Brexit this responsibility has now shifted to Westminster. But moving some of the rules into the rule books followed by regulators such as the Financial Conduct Authority could avoid cumbersome processes for legislators, MPs said.

Respect financial watchdog independence, UK lawmakers tell ministry

Respect financial watchdog independence, UK lawmakers tell ministry FILE PHOTO: The City of London financial district is seen with office skyscrapers commonly known as Cheesegrater , Gherkin and Walkie Talkie seen in London, Britain, January 25, 2018. Picture taken January 25, 2018. REUTERS/Toby Melville/File Photo July 5, 2021 By Huw Jones LONDON (Reuters) – Britain’s finance ministry should avoid crimping the independence of financial regulators by overloading them with requests for post-Brexit rule amendments, UK lawmakers said on Tuesday. Having fully left the European Union at the end of December, Britain can now write its own financial rules as it seeks to sharpen London’s competitiveness as a leading global financial centre.

Builders Merchants News - CBI Economist confirmed for BMF Members Day Conference

Builders Merchants News - CBI Economist confirmed for BMF Members Day Conference
buildersmerchantsnews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from buildersmerchantsnews.co.uk Daily Mail and Mail on Sunday newspapers.

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