Friday, December 09, 2022

UK to ease financial regulations in post-Brexit shakeup

Good news! Make best use of the Brexit! 😊 Margaret Thatcher is smiling! Make the Adam Smith and the English/Scottish Enlightenment proud again!

"Britain announced plans Friday to ease banking rules brought in after the 2008 global financial crisis in a bid to attract investment and secure London’s status as Europe’s leading finance center.
Treasury chief Jeremy Hunt said the changes, which follow Britain’s departure from the European Union in 2020, will make the U.K. “one of the most open, dynamic and competitive financial services hubs in the world.”
The package of more than 30 changes includes lifting a cap on bankers’ bonuses and easing capital requirements for smaller lenders. The government also said it will review regulations that hold bankers accountable for their decisions and will relax “ringfencing” rules intended to separate risky investment banking from retail operations. ..."

UK to ease financial regulations in post-Brexit shakeup | AP News

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