Britain set out a raft of measures on Friday to bolster the City of London’s role as a global financial center, under strain since Brexit ushered in new competition from Amsterdam, Paris and Frankfurt.
LONDON — Britain set out a raft of measures on Friday to bolster the City of London’s role as a globalnancial center, under strain since Brexit ushered in new competition from Amsterdam, Paris and Frankfurt.
“We have to make sure that we don’t unlearn the lessons of 2008, but at the same time recognise that banks today have much stronger balance sheets,” he told an event hosted by theThe city has been largely cut off from the European Union by Brexit, putting pressure on the government to ease rules as Amsterdam overtook London to become Europe’s top share trading centre, adding to competition from New York and Singapore.
But the emphasis has shifted to reviewing and tweaking rules while remaining aligned with global standards, rather than any wholesale dismantling of regulations. nancial crisis over a decade ago when the government had to bail out undercapitalized banks while few individual bankers were punished.cation regime , requires banks and insurers to name individuals responsible for speciBankers have complained that regulators take too long to vet these senior appointments.
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