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Reinforce UK's Financial Regulation, Lawmakers Urge Gov't

Law360, London (January 27, 2018, 12:03 AM GMT) -- U.K. lawmakers called on the government on Saturday to begin reinforcing Britain’s financial regulation to prevent any gaps in oversight when responsibility is transferred from the European Union to British regulators during Brexit.

“It is vital that Brexit, in transferring powers to domestic regulators, should not result in an unintended deficit in democratic scrutiny and accountability,” the House of Lords EU financial affairs sub-committee said in a report on financial regulation after the country leaves the bloc in March 2019.

Any future regulatory regime will probably...
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