Growth In Finance Regulation Creates Systemic Risk
Law360, London (January 6, 2020, 2:34 PM GMT) -- Uncoordinated regulatory activity is increasing systemic risk in the U.K.’s financial services system, a leading lobby group said Monday, as it called on the government to specify priorities for individual watchdogs.
Some banks in the City of London have complained of having to deal with approximately 18 notifications a week from regulators, leading to high compliance costs. (AP) The warning comes in a response by UK Finance to an HM Treasury review of the financial regulatory system published on Monday. The trade group said that "regulatory change now accounts for increasing operational risk in the financial services system" and that institutions have to...
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