No “bonfire of regulation” post Brexit, says FCA chief
Andrew Bailey said he does not foresee a “great bonfire of regulation” as watchdog sets up department to deal with EU exit.
The chief executive of the Financial Conduct Authority, Andrew Bailey told the Annual Public Meeting of the regulator that "no great bonfire of regulation" will take place post-Brexit.
The Financial Times reported that many of the rules that derive from the EU are safeguards that the UK would want as part of its own regulatory system anyway.
New team
Bailey, who took up his post at the start of July, also stated that the FCA has set up its own Brexit team in order to focus on leaving the EU.
The
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