UK restructure could create scary superpower

UK restructure could create scary superpower


LONDON –  The proposed restructure of financial regulators in the UK could result in unchecked power for the resulting Prudential Regulatory Authority (PRA), warns one consultant. Speaking to Operational Risk & Regulation, Susan Puddephatt, a consultant at Bovill, expressed concerns that the plans in their current form could result in the PRA possessing rulemaking abilities with no obligation to consult the financial services industry.

The current UK regulator, the Financial Services Authority

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