Bailey reaffirms Brexit 'no race to the bottom on deregulation'

Speaking at a Thomson Reuters event on ‘Why free trade and open markets in financial services matter', Bailey (pictured) reiterated the Financial Conduct Authority's (FCA) message that the UK's exit from the EU would not bring about a deregulation of the market. Bailey had already shared a similar sentiment in a speech on Brexit last year when he said the negotiations would not lead to a "bonfire of regulation". Former UKIP candidate and adviser Nick Lincoln had said before the Brexit referendum he hoped leaving the EU would mean less, but stronger, regulation for advisers. He said he...