UK lawmakers ask BoE's Bailey to clarify "apparent contradictions" over LCF

Reuters | London | Updated: 09-03-2021 16:05 IST | Created: 09-03-2021 15:18 IST
UK lawmakers ask BoE's Bailey to clarify "apparent contradictions" over LCF
Image Credit: Flickr

Bank of England Governor Andrew Bailey must clarify "apparent contradictions" in evidence he gave to a parliamentary inquiry about his role in the collapse of investment group London Capital & Finance, lawmakers said on Tuesday.

Bailey gave evidence to parliament's Treasury Committee on Feb. 8 about the collapse of LCF in 2019 while he was chief executive of the Financial Conduct Authority, after heavy criticism of the FCA in a report by former judge Elizabeth Gloster.

Gloster had disagreed with Bailey's account of a dispute between them over whether regulators should be held personally responsible or culpable in her report, as well as a range of other issues.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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