Andrew Bailey defends record in parliamentary grilling
Prospective BoE governor says he faced a “huge task” in “rebuilding” the FCA
Andrew Bailey suffered a grilling today (March 4) in his appointment hearing as prospective Bank of England governor, with lawmakers probing his turbulent years at the Financial Conduct Authority.
More than half of the hearing, which went on for about an hour and 40 minutes, was devoted to Bailey’s three-and-a-half years as FCA chief executive – though, as he noted, he was at the BoE for more than 30 years before that.
Members of the Treasury Committee pressed Bailey on allegations raised as
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