UK to Ease Banker Accountability Rules, Cutting Red Tape for 139,000 Executives

The Bank of England will significantly reduce the scope of its Senior Managers and Certification Regime, requiring prior approval only for the most senior roles. This deregulation, expected to save firms £2.4 billion annually, marks a notable reversal of post-2008 financial crisis accountability measures. The move signals a shift toward competitiveness and growth, but raises questions about future misconduct oversight.

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