< Regulars | 03.01.2018

Brexit – IRSG report on the architecture for regulating financial services

Brexit – IRSG report on the architecture for regulating financial services

The International Regulatory Strategy Group (IRSG) has published a report which calls for a review of the UK’s rulemaking system for financial services post-Brexit.

The report outlines four main recommendations for review:

  • The powers and resources of UK regulators, including how any significant policy decisions are reached
  • Framing the responsibilities of regulators to ensure regulation continues to be at the forefront of global standards, while remaining flexible and adaptive to market needs
  • The scrutiny and oversight of regulators, how they interact with the UK parliament, key stakeholders and the public
  • The legislative and regulatory process, including consultation and review mechanisms, as well as an assessment of areas for consolidation and simplification.

The report can be viewed at: bit.ly/2kDUM14

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