‘PRA robot’ highlights rise in regulatory complexity
BoE’s Sam Woods says linguistic analysis reveals some problems with the wording of regulation
A ‘robot’ designed by staff at the UK’s Prudential Regulation Authority has shed light on rising complexity in the post-crisis rulebook, which could prompt a rethink by regulators.
On October 24, PRA chief Sam Woods acknowledged that the work did appear to have highlighted some problems. Complexity is a particular issue for small firms, and could be hampering competition in the UK financial sector, he said.
“We do want to look harder at the competition aspect,” Woods told a gathering of
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com