Reuters: Regulatory News: UK lawmakers express 'serious concerns' about Bank of England FPC nominee

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UK lawmakers express 'serious concerns' about Bank of England FPC nominee Jun 5th 2013, 12:24 Wed Jun 5, 2013 8:53am EDT LONDON, June 5 (Reuters) - British legislators said on Wednesday that they had "serious concerns" about the appointment of former London Stock Exchange chief executive Clara Furse to a Bank of England regulatory committee. Lawmakers on the lower house of parliament's Treasury Committee challenged Furse in a hearing on Tuesday over her role as a non-executive director at Belgian bank Fortis during its purchase of a stake in rival ABN AMRO, which forced Fortis to seek a state bailout. "The Committee expressed serious concerns about the appointment of Dame Clara Furse," the committee said in a report on Wednesday into her appointment to serve on the BoE's Financial Policy Committee, which monitors risks threatening financial stability in Britain. However, the Treasury Committee said that despite these reservations, it concluded that she had sufficient professional competence and personal independence to take up the role. It reached a similar conclusion for two other nominees, former Barclays chief executive Martin Taylor and former Goldman Sachs executive Richard Sharp. (Reporting by David Milliken, Editing by Rosalba O'Brien)

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