By Huw Jones LONDON (Reuters) - Easing rules to boost the post-Brexit global competitiveness of Britain's financial sector can only be done while ...
By Huw Jones LONDON - Easing rules to boost the post-Brexit global competitiveness of Britain's financial sector can only be done while maintaining a resilient financial system, Bank ofLONDON - Easing rules to boost the post-Brexit global competitiveness of Britain's financial sector can only be done while maintaining a resilient financial system, Bank of England Deputy Governor Sam Woods said on Tuesday.
But, the banking industry is worried that regulators will find way to obfuscate how they are complying with the new objective as Woods sought to manage expectations. "It's only if you maintain those foundations that you can then go on to the other things like efficiencies, removing bureaucracy and being in favour of innovation," Woods said, citing plans to cut reporting requirements for insurers by a third.
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