It would be a "huge mistake" to diminish the scope of the UK's financial reforms in favour of transforming the UK into a low-tax, low-regulation economy, according to the Bank of England's, Dame Minouche Safik deputy governor for markets and banking. In her final interview before leaving the bank, Shafik said that loosening regulations on the UK's financial sector would sow the seeds of another financial crisis. Shafik will leave her position later this year to become the first female director of the London School of Economics.
It would be a "huge mistake" to diminish the scope of the UK's financial reforms in favour of transforming the UK into a low-tax, low-regulation economy, according to Dame Minouche Safik, the Bank of England's deputy governor for markets and banking. In her final interview before leaving the bank, Shafik said that loosening regulations on the UK's financial sector would sow the seeds of another financial crisis. Shafik will leave her position later this year to become the first female director of the London School of Economics.