Political influence on the decision to drop FCA’s banking inquiry

This from Financial Times:

A Bank of England official oversaw the move by the City regulator to scrap a review into Britain’s banks, it emerged on Tuesday, just a day after the Financial Conduct Authority insisted external pressure had not influenced its decision.

Megan Butler, an executive director at the BoE’s Prudential Regulation Authority (PRA), was a key figure overseeing the plans to drop the FCA’s inquiry into whether banks had changed their working culture since the financial crisis, according to documents seen by the Financial Times. She was parachuted in to the City regulator at the start of September on secondment.

BoE official oversaw FCA retreat from inquiry into banking culture