November 2018: Bonfire of the Sandwiches

Regulators must reach an agreement on data sharing before Brexit, even if that requires working around EU rules.

Jim Rundle

Most market bellwethers follow commonly accepted measures of market confidence: manufacturing indices, inflation, employment rates, the price of gold. Not so for Andrew Bailey, CEO of the UK’s Financial Conduct Authority (FCA), who used his speech at Mansion House on October 25 to introduce a new measure of regulatory impact—the effect of the revised Markets in Financial Instruments (Mifid II) on the catering at City events. “Mifid II is leading to a critical decline in the quality of sandwiches

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