UK to relax post-2008 rules that hold City bosses accountable for wrongdoing
Regulators say removing ‘unnecessary burdens’ will save businesses about £2bn over 10 years The UK is watering down rules introduced in the aftermath of the…
The Guardian reports: Regulators say removing ‘unnecessary burdens’ will save businesses about £2bn over 10 years The UK is watering down rules introduced in the aftermath of the financial crisis that were designed to hold City bosses accountable for wrongdoing.
This business story centres on the United Kingdom. Names and organisations mentioned in the coverage include UK, Bank of England and Financial Conduct Authority.
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Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- UK, Bank of England, Financial Conduct Authority, FCA
- Section
- Business
- Figure cited
- The plans, put forward by the financial industry’s two top regulators, the Bank of England and the Financial Conduct Authority (FCA), include a reduction in reporting for “lower-level misconduct” and would also free 140,000 managers from extra checks. (The Guardian)
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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