Gov’t Says Stability Will Still Trump Growth In Brexit Shakeup – Law360

By Martin Croucher (March 2, 2022, 6:08 PM GMT) -- The government will ensure that regulators will still prioritize financial stability over a new requirement to consider international competitiveness and growth, the City minister told MPs on Wednesday, as the U.K. charts a post-Brexit course for financial services.

John Glen told the Treasury Select Committee that the government did not intend to "neuter" the powers of U.K. financial watchdogs by making them consider the wider effect on the market of regulatory action.

The government is considering whether to introduce a requirement for watchdogs to consider how globally competitive Britain's financial sector is when it drafts new regulation. The proposed new guiding...

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Gov't Says Stability Will Still Trump Growth In Brexit Shakeup - Law360