UK against relaxed capital rules for financial institutions

London Since the UK left the European Union nearly three years ago, Brexit supporters have been promising a “big bang” that will free British financial services firms from the regulatory shackles of EU membership. City of London Secretary Andrew Griffith has now submitted: “We can make Britain a better place to bank by releasing some of the capital trapped by ringfences over time,” the Conservative said Week at a banking conference of the “Financial Times” in London.

The so-called “ringfencing” was also introduced in the EU after the financial crisis in 2008 on the initiative of Great Britain in order to better protect private customers from the risks of investment banking. To this end, the organization, supervision and capital buffer of bulk business have been separated from investment activities.