Bank to relax regulation after Brexit

Industry News | 13/11/20

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