Britain set out plans on Monday for a post-Brexit review of its rules for the 11 trillion pound ($13.2 trillion) asset management sector, with a focus on bolstering liquidity after a near meltdown in funds used by pension schemes last September.
Until Britain's departure from the European Union, rules for the UK funds sector were written in Brussels. Brexit means UK regulators can write their own regulations.Property funds were suspended in the immediate aftermath of Britain's 2016 vote to leave the EU and when the economy went into lockdown to fight COVID-19 in March 2020 as investors sought to pull out their money.
So-called liability-driven investment funds, used by pension schemes to ensure long term payouts to pensioners, struggled to meet cash calls last September when UK government bond prices tumbled.
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