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MPs Back Giving Watchdogs Power To Make Regulatory Changes

ADVERTISEMENT MPs Back Giving Watchdogs Power To Make Regulatory Changes Law360, London (July 6, 2021, 1:02 AM BST) Britain s finance watchdogs should be handed power to amend regulations policing the sector without political interference, an influential parliamentary committee said on Tuesday, as they lent their support to light-touch scrutiny of rule-setting. The House of Commons Treasury Committee said that the financial regulators the Financial Conduct Authority, the Bank of England and the Prudential Regulation Authority should be in charge of making amendments to European Union rules that were incorporated into British legislation before the country left the EU s regulatory orbit on Dec. 31.

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