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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