Paul Tucker: UK supervisors’ powers may go too far
Former BoE deputy says some central banks have too much power and not enough accountability
Former Bank of England deputy Paul Tucker has said he believes the UK’s parliament could have built greater accountability into the structure of new supervisory bodies after the 2008 crisis.
Though broadly in favour of the Prudential Regulation Authority’s new powers, Tucker said he believed the powers were handed over without due consideration of how to hold prudential supervisors to account. He was particularly critical of the design of the Financial Conduct Authority (FCA).
In remarks
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