Bank of England deputy governor warns of crackdown on financial sector

Bank of England (BoE) Deputy Governor Sam Woods has warned that Britain's financial sector could face a crackdown by regulators seeking to enforce their rules more tightly as they try to ensure the financial system remains safe a decade on since the financial crisis. Woods, who is the head of the Prudential Regulation Authority (PRA), the BoE's banking supervisory arm, told the Telegraph that he wanted to avoid "a return to the buccaneering ‘heads I win, tails you lose' culture that we had before the crisis". "I think it's possible that as we come out of the reform phase, and enter a ...