FCA's Bailey: UK must 'stay closely aligned to EU'

'Range of operational issues'

Chief executive of the Financial Conduct Authority (FCA) Andrew Bailey has called for the UK to maintain close regulatory alignment and equivalence with the EU post-Brexit, in order to preserve open financial markets and consumer protection standards.

Bailey insisted this should be achieved through a new "framework" in which the UK would have a say in evolving regulatory standards so the country is not relegated to the role of "rule taker". Brexit Blog: Raab accuses Brussels of being 'deliberately intransigent' Speaking at the City Banquet, Mansion House on Thursday (25 October), Bailey explained: "There is a broader solution to removing cliff edges, which is for both the UK and EU to commit to taking reciprocal equivalence decisions on each other's regimes, as early as possible. "One broad outcome is to seek to stay closely ali...