UK Small Business Lending Under Threat
A new report from Innovate Finance, a fintech body, criticizes the UK's prudential regulation, calling it "logic-defying" and a threat to small business lending.
The report accuses the Prudential Regulation Authority of imposing "excessive" and "uneven" regulatory burdens on challenger banks, favoring large incumbents.
Rules "intentionally favour" large incumbents, says Innovate Finance.
- Accountants warn of increased economic crime due to the regulation.
- Mixed messaging from CEOs may lead to an overhaul.
- National regulators are divided over Esma's MiCA role.
- Principality rushes to exit FATF's grey list.
Innovate Finance's report highlights the need for a level playing field in the banking sector.
Author's summary: UK regulation threatens small business lending.
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