City Calls For Fix To Financial Regulatory Patchwork

Law360, London (February 10, 2021, 12:54 PM GMT) -- Britain's regulators must streamline the "patchwork" of finance rules introduced as the country left the European Union while ensuring that they do not water down regulation or impose tax cuts, the body that governs London's financial center said on Wednesday.

The City of London Corporation called on watchdogs to revamp the European Union rules implemented by Britain before the Brexit transition period ended in December.

"We have the opportunity to streamline a regulatory regime that is a patchwork of systems and which was not designed for the challenges of the future," the Lord Mayor of the City of London, William Russell, said. "We would...

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