**Glass-Steagall Act (1933–1999):** The Banking Act of 1933, which included the Glass-Steagall provisions separating commercial and investment banking, was substantially repealed by the Gramm-Leach-Bliley Act, signed into law on November 12, 1999. From 1933 to 1999 is 66 years — approximately "seven decades," a reasonable if slightly rounded characterization. The repeal was indeed enacted by politicians (Congress passed the bill; President Clinton signed it), though Farage's phrasing attributes it to Alan Greenspan, who was Federal Reserve Chairman and supported deregulation but did not personally have legislative power to repeal it. The core factual assertion — that long-standing rules were changed by political action — is accurate. **UK banking supervision:** In May 1997, Chancellor Gordon Brown announced that banking supervision would be transferred from the Bank of England to a new unified regulator, which became the Financial Services Authority (FSA). The Bank of England had exercised banking supervision for many decades, though formal statutory powers were established by the Banking Act 1979. The transfer was completed in 1998. This was indeed a significant change to a long-standing regulatory arrangement made by a politician (Brown). **Assessment:** The claim that politicians changed long-standing financial regulation rules is accurate. The Glass-Steagall example fits the "seven decades" timeframe closely (66 years). The UK example involves a regulatory structure that had existed for decades, though not precisely seven decades under the Bank of England's formal statutory mandate. The core assertion is supported by public evidence. The only minor inaccuracy is that Farage attributes the Glass-Steagall repeal to Greenspan rather than to Congress and the President, but the claim being verified is about politicians changing rules, which is what happened. Sources: Congress.gov, "The Glass-Steagall Act: A Legal and Policy Analysis," https://www.congress.gov/crs-product/R44349; Public Law 106–102 (Gramm-Leach-Bliley Act), full text via FRASER (St. Louis Fed), https://fraser.stlouisfed.org/title/financial-services-modernization-act-1999-gramm-leach-bliley-act-1050/fulltext; UK Parliament Hansard, "Bank of England and Financial Regulation," 20 May 1997, https://api.parliament.uk/historic-hansard/commons/1997/may/20/bank-of-england-and-financial-regulation; BBC News, "UK financial regulation overhauled," https://www.bbc.com/news/business-21987829