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

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 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.
Source: Reuters (Writing by William Schomberg; editing by David Milliken)

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