BoE's Bailey calls for ‘much more systematic approach' to financial sanctions
UK prudential regulator says need for clear understanding of when and to whom sanctions apply
International and UK regulators should co-ordinate their approach to financial sanctions to avoid draining banks' capital buffers at a time when they should be strengthening such safeguards, according to Andrew Bailey, chief executive officer of the Bank of England's (BoE) Prudential Regulation Authority (PRA).
Speaking at the British Bankers' Association's (BBA) annual conference on financial crime, Bailey called on international regulators to take a "cards on the table approach" to illegal
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