Blog: MPs accuse Treasury of ‘power grab’ as plans for post-Brexit City overhaul take shape – Financial News

The Treasury has been accused of orchestrating a “power grab” as its plans for a landmark overhaul to financial services legislation in the wake of Brexit take shape.

In a 7 September debate MPs argued that wider parliament could be excluded altogether as government ministers look to ensure sharper scrutiny of regulators’ decisions, scrap EU-derived rules for the City, and cut red tape for the sector.

Labour…

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