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Britain proposes global competitiveness objective for financial regulators – Metro US

Britain proposes global competitiveness objective for financial regulators

FILE PHOTO: Skyscrapers in The City of London financial district
FILE PHOTO: Skyscrapers in The City of London financial district are seen in London

LONDON (Reuters) – Britain proposed on Tuesday to require financial regulators to safeguard the global competitiveness of the financial sector as a formal objective in their work after Brexit.

“The government intends to provide for a greater focus on growth and international competitiveness through the introduction of new secondary objectives for the Prudential Regulation Authority and the Financial Conduct Authority,” the finance ministry said in proposals put out to public consultation.

(Reporting by Huw Jones; Editing by Catherine Evans)

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