BoE officials welcome stronger post-Brexit regulatory powers

Andrew Bailey says UK must not become a “rule-taker” on financial services


Bank of England officials have welcomed the stronger powers the UK central bank is likely to gain over regulation in the wake of Brexit.

The UK’s departure from the European Union “does transfer a lot of power to [the BoE]”, governor Andrew Bailey said today (January 6).

The UK government is currently consulting on a new financial regulatory framework that is expected to give the BoE new rule-setting powers, opening the possibility of divergence from EU regulations. The BoE has already

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