Bank Of England: ‘Tougher Regs’ For ‘World’s Leading Fintech Center’ London

UK fintech businesses should prepare for a more “intense regulatory focus” in the future, the Bank of England has said sharing its vision of post-Brexit London. The Bank’s governor, Mark Carney, also stated in a speech Wednesday that despite Brexit negotiations, London was to become the “world’s leading fintech center.” Fintech could ‘exacerbate financial volatility’ The somewhat contradictory remarks from Carney were made in his capacity as chairman of the Financial Stability Board, a Swiss-based group which makes recommendations to G20 countries. He said that fintech companies en masse...

Category - Finances