UK to ease financial rules in post-Brexit shakeup

Britain announced plans Friday to ease banking rules brought in after the 2008 global financial crisis in a bid to attract investment and secure London’s status as Europe’s leading finance center.

Treasury chief Jeremy Hunt said the changes, which follow Britain’s departure from the European Union in 2020, will allow UK banks to "compete with other financial centres, whether they're the United States or Asia."

The government also said it will review regulations that hold bankers accountable for their decisions and will relax “ringfencing” rules intended to separate risky investment banking from retail operations.