UK’s Osborne defends ‘middle way’ struck by BoE bill
Talks up value of BoE independence in response to concerns over NAO role
Enforcing the reverse burden of proof in the UK's senior managers regime at banks but not other financial firms would have created "a bit of a dog's breakfast", the UK's finance minister said today (October 22).
Despite initially intending to put the onus on providing proof on individuals at banks rather than the regulator, the plans were scrapped, a decision George Osborne justified in his appearance at the Treasury Committee.
Under the Bank of England Bill, the senior managers regime is being
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