The Architecture for Regulating Finance after Brexit
Linklaters and the International Regulatory Strategy Group have launched a report, "The Architecture for Regulating Finance after Brexit".
The report, which builds on our previous report "The Great Repeal Bill Domesticating EU Law", outlines principles for an effective regulatory framework. It proposes reforms to the UK’s existing system of financial services regulation in light of changes in the responsibilities of the regulators and the government as rule-making processes are domesticated through the EU Withdrawal Bill.
The report was formally launched at a panel discussion between industry leaders and members of the policymaking community, who discussed its implications.
Listen to the experts
The Rt. Hon. Lord Bruce of Bennachie, EU Financial Affairs sub-committee discusses the report and explains that the UK Parliament does not have the capacity to tackle financial services in detail so the process needs to be restructured to create greater engagement with regulators.
Dr Kay Swinburne, MEP and Vice-Chair of Economic & Monetary Affairs Committee adds there needs to be a balance between giving regulators more ability to change the rules and the need to make sure that still stands up to scrutiny of global standards.
The International Regulatory Strategy Group is a practitioner-led body comprising leading UK-based figures from the financial and professional services industry. It is co-sponsored by TheCityUK and the City of London Corporation.
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