Things that only make sense to what Jeremy Clarkson calls “the eight year olds” in Brussels or Strasbourg. So a trace of optimism this week perhaps for the announcement below.
“Britain’s finance watchdogs should be handed power to amend regulations policing the sector without political interference”, a parliamentary committee said on 6 July 2021, lending support to ‘light-touch’ scrutiny of rule-setting.
The House of Commons Treasury Committee said that the FCA should be in charge of making amendments to EU rules.
This means that MPs will no longer need to amend or pass new legislation every time regulators want to make changes. “The incorporated measures should be written into the regulators’ own rulebooks so that they can easily change them,” the Committee said.
So the FCA is now charged with unfettered right to change the rules. Let’s hope that is good news.
July 9th 2021