UK Financial Shake-Up To Be Led By Stronger BofE

Law360, New York (July 26, 2010, 6:09 PM EDT) -- U.K. Financial Secretary Mark Hoban MP has outlined additional details of the country's plan to overhaul its regulatory regime by providing more authority to the Bank of England and has asked interested parties to weigh in on the government's proposal, which will be implemented on an interim basis in fall 2010.

In a speech at the London Stock Exchange on Monday, Hoban reiterated his focus on a regulatory package that would both cure the lending issues that led to the recent recession and create tools for...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.