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GAAP.RUNewsBank of England will become the main financial regulator in the UK

Bank of England will become the main financial regulator in the UK

Publication date: 18 June 2010

UK Chancellor of the Exchequer George Osborne informed that the Bank of England, currently acting as the country’s Central Bank, would be given exclusive powers to control the whole financial sector.

UK Chancellor of the Exchequer George Osborne informed that the Bank of England, currently acting as the country’s Central Bank, would be given exclusive powers to control the whole financial sector: he confirmed the newly elected government’s intentions to simplify today’s system of financial regulation, and that the Financial Services Authority would no longer exist in any form.