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Regulators warn of ‘race to the bottom’ in rush to axe Brexit red tape
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Leading regulators have cautioned against a “race to the bottom” as the government looks to take an axe to regulatory red tape in the wake of Brexit.
In a bid to capitalise on its newfound freedom to depart from directives issued from Brussels, the government is currently consulting on changes that would see the Financial Conduct Authority and Bank of England’s Prudential Regulation Authority take greater control of the domestic rulebook.
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