Banking Law News

Woodford Woes Devolve Into London-Brussels Blame Game Over Rules

June 26, 2019, 1:42 PM

The City of London’s top watchdog tried to blame Neil Woodford’s fund woes on shortcomings in European Union regulations, suggesting oversight would be easier after Brexit. Brussels is having none of it.

Supervisors such as the U.K. Financial Conduct Authority just need to do their jobs overseeing markets and enforcing regulations that are devised by all the members of the 28-nation bloc, the European Commission, the EU’s executive arm, said June 26.

“We see no immediate reason for changing rules which are, in our view, clear but need to be applied properly by national authorities in order to ensure the...

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