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Bank of England proposes ‘more British style’ of finance regulation


Bank of England proposes “more British style” of finance regulation By Reuters

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Economy 10 minutes ago (Sep 08, 2022 10:23)

© Reuters. FILE PHOTO: General view of the Bank of England in London, Britain, October 22, 2021. REUTERS/Tom Nicholson/File Photo

LONDON (Reuters) – The Bank of England said on Thursday it would move to a “more British style of regulation” for the country’s huge financial services industry as it seeks to take advantage of Brexit.

The BoE’s Prudential (LON:PRU) Regulation Authority published a discussion paper describing its proposals for policy-making now that Britain has left the European Union.

“The move to a more British style of regulation, with technical rules made by regulators rather than set out in law, will enable us to deliver strong prudential standards in a manner that is proportionate, supports competitiveness and is tailored to the UK market,” BoE Deputy Governor Sam Woods said.

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