The banking sector and financial institutions are waiting with bated breath regarding potential news of de-regulation in the City. Is this a return to pre-2008 de-regulation, described by critics as a race to the bottom of regulation, or is it the liberation of reforms to kick-start the city post-Brexit? We can only wait and see!
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Dawn of a new era for the City?
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The government is set to announce what it describes as one of the biggest overhauls of financial regulation for more than three decades. It is expected to loosen rules on banks introduced after the financial crisis in 2008 when some banks faced collapse. The changes will be presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy.
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