UK Regulators To Prioritize Growth In Rulebook Overhaul

By Lucia Osborne-Crowley (November 9, 2021, 5:24 PM GMT) -- The U.K. government said on Tuesday that it plans to overhaul the financial regulatory architecture to break from European Union rules, in a move that will force regulators to consider economic growth and competitiveness in their decision-making.

Chancellor of the Exchequer Rishi Sunak announced that the government plans to swap out the EU rulebooks governing the financial sector that have been transposed into U.K. law for a new system. Sunak said that the new system will be more dynamic and flexible.

The new rules would change the factors that financial regulators must take into account when overseeing the financial system, which...

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