Bank to relax regulation after Brexit

Regulations on small banks and building societies will be relaxed after the Brexit transition ends this year as the Bank of England jettisons the European Union’s rule-based approach for “a more British style of regulation”.

Sam Woods, deputy governor for prudential regulation, said that the Bank would move quickly to introduce a “strong and simple” framework for challenger banks to cut regulatory costs and improve their competitiveness against the eight dominant high street lenders.

Source: The Times
GO TO ARTICLE +