BoE wants more freedom to set tough rules
The UK must have the freedom to adopt tougher regulation of the financial services industry than the EU after Brexit, says Bank of England governor Mark Carney.
Carney told MPs that Britain frequently had higher standards for the sector than the rest of the EU and, as the BoE must regulate the “most complex financial system in the world”, it needed to retain that power.
His comments come after the government published a white paper on the UK’s post-Brexit relationship with the EU, including proposals for Britain to have greater flexibility on regulation of the financial services industry, but less market access to the bloc.
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