Bank Of England Announces Revamp In Wake Of Critical Andersen Report

AS RMO closed for press the Bank of England announced a major restructuring of its supervision role, in the wake of last year's collapse of the London-based Barings banking group.

The organizational changes follow a nine-month review into the bank's operations conducted by Arthur Andersen, the international accountancy and consultancy house.

According to a Bank of England statement, the Andersen review endorsed the bank's basic approach to regulating the UK's financial markets.

This approach is

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