Europe, Middle East & Africa: A rough start

Author: Jimmie Franklin | Published: 10 Mar 2020

It finally happened. After more than three years, Britain finally made its formal exit from the European Union on January 31. However – as anyone beyond the British government will admit – this is just the start. While both Brussels and Downing Street talk tough, financial services has taken a more pragmatic approach. In February, the City-sponsored International Regulatory Strategy Group (IRSG) released a new report outlining proposed changes to the UK's financial regulatory architecture post-Brexit. Its suggestions include a formal role for international financial standards within the UK's regulatory architecture, consolidating financial regulation to improve accessibility and compliance costs, and strengthening the scrutiny of regulators and HM Treasury by establishing a new, appropriately mandated, staffed and resourced cross-parliamentary committee....