BoE seeks balance in regulating financial innovation
Prudential supervisor outlines hands-off approach for AI but tight rules for crypto
The Bank of England will maintain a flexible approach to regulating innovation in the financial sector, its executive director for prudential policy has said.
Speaking in London today (June 18) at the Risk Live Europe event organised by sister publication Risk.net, David Bailey discussed how the BoE’s Prudential Regulation Authority (PRA) aimed to fulfil its mandate of supporting growth through effective regulation of financial innovation.
Bailey noted that innovation could bring numerous benefits
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