The UK's Financial Regulatory Framework Review moved on to its next stage this past week with proposals to significantly beef up the powers of the FCA and PRA - as the powers previously delegated through the EU should now go to them, the UK government said.
However, the proposals have thrown up some further questions, including around the impact on practical management and use of those powers given that the government has also proposed increasing the powers of HM Treasury to meddle in decision making of those regulatory bodies.
12.11.21 Parallel universes
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