Wall Street

UK lawmakers urge caution with post-Brexit financial reform

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Reuters UK

By Huw Jones LONDON (Reuters) – Brexit is no reason to radically alter British financial regulation and regulators should not be forced to water down rules to boost London’s competitiveness, or stray from global standards, a UK parliamentary committee report said on Thursday. Britain’s departure from the European Union largely cut off its huge financial sector from the bloc and the country is reviewing rules inherited from the EU amid calls from banks for greater emphasis on keeping City of London globally competitive. The report, however, advocates caution. “Simplifying financial regulation a…

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