Britain risks a repeat of the current financial crisis unless it establishes a body that is independent enough to stand up to powerful vested interests, a prominent former regulator has warned. Sir Andrew Large, a former deputy governor of the Bank of England, says in an article in Tuesday’s FT that the UK needs an independent body to provide early warnings of systemic financial problems and would have the tools to discourage excessive borrowing. The government should act quickly to set up such a body before the political will to do so dissipates.

This entry was posted by Gwen Robinson on Tuesday, January 6th, 2009 at 5:36 and is filed under Capital markets, People. Tagged with Sir Andrew Large. Edit this entry.