Bank of England targets Brexit motivated EU relocations as Spain's UK expats face exit

Mark Battersby
clock • 1 min read

The Bank of England (BofE) is demanding that lenders seek its approval before relocating UK jobs or operations, according to a report in the Financial Times. The move comes after the BoE became concerned that European regulators are asking for more to move than is necessary for financial stability post-Brexit. The BofE reportedly heard of several requests from the European Central Bank (ECB) that it considered excessive and beyond what is required from a supervisory perspective. Sources told the Financial Times that BoE governor Andrew Bailey had taken a personal interest in the is...

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