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UK review of EU financial rules is right, but remember they stem from crisis, BOE’s Bailey says

By Fiona Maxwell ( December 13, 2022, 14:10 GMT | Insight) -- Reams of rules were put in place after the 2008 financial crisis for a reason, and sweeping post-Brexit reviews of EU regulations should not forget this, Bank of England Governor Andrew Bailey said today. UK finance minister Jeremy Hunt announced a set of 30 reforms to financial regulation on Friday. They include a review of the senior managers regime, which Bailey said has changed the culture of the financial services industry.The painful global financial crisis of 2008 should not be forgotten as the UK reviews pieces of inherited EU financial legislation, Andrew Bailey said today, days after the UK government announced a landmark overhaul. ...

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