By Najiyya Budaly (January 1, 2022, 10:02 PM GMT) — British financial regulators have been exploiting the breakaway from the European Union’s regulatory framework to boost London’s competitiveness in world markets, and lawyers predict 2022 will bring enhanced efforts to boost environmental and diversity disclosures, reform how wholesale markets operate, and increase oversight of cryptocurrencies.
The U.K. government prepared for leaving the EU in December 2020 by rewriting swathes of EU legislation into U.K. law. And now, regulators must grapple with cleaning up the onshored rulebook so it is workable for Britain’s market and firms, while delivering on government promises of a more competitive British financial marketplace.
“What we’ve seen so far is a Band-Aid approach,” said Kate Sumpter, a…
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