Charlotte Hogg has resigned from her position of deputy governor of the Bank of England.
It follows her failure to disclose a possible conflict of interest upon taking up her role.
The Treasury Committee had previously criticised her conduct, saying her “professional competence falls short of the very high standards required to fulfil the additional responsibilities of deputy governor for markets and banking”.
Andrew Tyrie MP, chairman of the Treasury Committee, said: “This is a regrettable business with no winners. Ms Hogg has acted in the best interest of the institution for which she has been working. This is welcome.
“It is also welcome that the Bank has responded immediately by announcing an internal review. The Bank’s governance is already in much better shape than it was a few years ago. It is something to which the Governor and Court has been committed for some time. But there is clearly more to do.
“The Treasury Committee will be examining the conclusions of this work in due course.”