UK lawmakers launch inquiry into BoE’s accountability

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An influential UK parliamentary committee on Thursday launched an inquiry into the implications of regulatory reform for the amount of accountability vested in the Bank of England.

The Treasury Select Committee, a panel of lawmakers who scrutinise the Treasury, Bank and soon-to-be-dismantled Financial Services Authority (FSA) among others, pointed to the fact that changes due to take place in 2012 will place a large amount of authority at the central bank. The FSA is to be split into the Prudent

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