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UK firms unsettled over post-Brexit powers for City watchdogs: ‘Regulators are going to end up with a huge amount of power’
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Large firms and organisations representing the UK’s financial services sector are balking at the proposed scope of regulator responsibility under plans to shift the landscape following the UK's split from the European Union.
Their concerns centre on accountability and oversight of regulators, whose powers are set to widen under proposals set out in the Future Regulatory Framework Review.
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