FCA’s Bailey hits back at EU location demands
It is not necessary for all EU financial activity to take place in the EU, FCA chief argues
Top UK regulator Andrew Bailey has hit back at demands from some in the European Union that firms conducting EU business must relocate to be within the bloc after the UK leaves.
The chief executive of the Financial Conduct Authority argued such an approach would be damaging to the openness of financial markets. “Other countries are moving in the direction to remove unnecessary location policies and national treatments,” Bailey said, adding he “strongly” welcomed proposals from the US for closer
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