June 23, 2020 / 11:05 AM / 20 days ago

Britain sets out approach to regulatory standards post-Brexit

LONDON, June 23 (Reuters) - Britain set out how it intends to approach regulatory issues in the financial services sector now that it has left the European Union, saying that it would make reforms to maintain the soundness of capital markets and manage future risks.

“The government is announcing how it intends to legislate for updated prudential rules to reflect international Basel standards and a new regime for investment firms,” Britain said in a statement issued by the Treasury on Tuesday.

The details published would help provide clarity to financial services firms and demonstrate the country’s continued commitment to “high regulatory standards” as discussions over equivalence with the EU continue. (Reporting by Sarah Young; editing by Guy Faulconbridge)

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