FCA's Bailey backs CFTC chief's call for deference

Andrew Bailey, CEO of the UK Financial Conduct Authority (FCA), on Thursday backed calls for deference espoused by US Commodity Futures Trading Commission (CFTC) chair Christopher Giancarlo, in a speech at the Eurofi Financial forum in Vienna.

  • By Costas Mourselas
  • 06 Sep 2018

The principle of regulatory deference sees home country regulators trust their peers in other jurisdictions to adequately police their own financial markets, as long as rules are deemed equivalent. The aim of the policy is to minimise duplicity of regulatory oversight. 

Bailey's speech comes after CFTC chair

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