Alastair Holt and Simon Treacy have co-authored the UK chapter for the latest edition of GLI’s Banking Regulation 2022.
The Government’s post-Brexit vision for financial services envisages the UK as a more open, competitive and technologically advanced financial centre. A future regulatory framework is being shaped that aims to be more proportionate, avoid unnecessary burdens on banks and allow for more responsive rule-making. And plans for the UK to be a world leader in green finance mean that banks are preparing for more scrutiny of how they manage environmental, social and governance risks and for compliance with incoming ESG-related regulations.
There will be much to do in the coming months and years to keep track of and implement the changes in regulation that will follow.
The UK, like many other jurisdictions, aims to use the banking sector to rewire the real economy and support the transition to net zero.