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Financial Regulators Race to the Bottom
Haydn Lightfoot, Senior Director at Synechron Business Consulting, said: “The US treasury secretary has recently published proposals to loosen several regulatory demands and raise thresholds, among other actions, to reduce regulatory obligations on banks in the US.”
“The financial sector is reaching a tipping point over maintaining regulatory standards. Attempts to attract banking business by creating favorable banking conditions is slowly becoming the priority for global financial watchdogs.
“If European regulators require further banking functions to be performed within the EU by banks operating in the region, this could push a soft Brexit relocation strategy into a hard Brexit scenario regardless of what happens in UK parliament.
“As such, UK based financial institutions working on their Brexit relocation scenarios may also want to consider a post March 2019 (phase 2) Brexit relocation plan to reflect future scenarios based on the relative risks of specific banking functions being required to move within EU boundaries to maintain access to EU clients. Whilst banks may want to limit Brexit re-location costs to a minimum, these risks could well influence location decisions for future growth.”
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TSAM London: Finastra Talks Operational Efficiency and Achieving Seamless Connectivity
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A Decade (Plus!) of Innovation: IFGS 2026 Proves the UK is Still the Beating Heart of Global Fintech
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Ethos Collaborates with Liberty Mutual to Deliver a Modern, Digital-First Life Insurance Experience
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Simply Business Launches Insurance App for Small Businesses in ChatGPT in the U.S.
Simply Business, a digital insurance marketplace for small businesses, announced the launch of its business insurance app in ChatGPT in the U.S
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