Financial watchdogs facing benchmarks to keep City competitive amid claims of 'unaccountable' regulators
Financial watchdogs facing benchmarks to keep City competitive amid claims of ‘unaccountable’ regulatorsByThe Government will not change the Bank of England’s inflation target of 2 per cent, a Treasury minister said.
Competition from rival stock exchanges to attract listing companies New York in company listings, Amsterdam’s emergence as Europe’s biggest stock market post-Brexit, the UK’s poor economic performance relative to other G7 nations, as well claims thathas increased pressure on UK financial watchdogs to ease rules.
move was abandoned amid accusations it would undermine the independence of the watchdogs and hurt the UK’s international reputation. Ministers insisted there would be no divergence from international standards. The call for proposals is to help determine what additional metrics are most appropriate for the regulators to publish, the Treasury said.Mr Griffith also denied the Treasury was “dragging its feet” on reforms that would help mutual companies such as John Lewis and Liverpool Victoria stay in business. He insisted the government was considering reforms to help the sector.
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