…One such voice is Barnabas Reynolds, partner and global head of the financial services industry group at international firm Shearman & Sterling. In a book published this month by the Politeia thinktank, Reynolds calls for the UK to grasp the post-Brexit opportunity of shedding the GDPR. This would be part of a wholesale programme of freeing the City from rules originating in civil code-based EU law in favour of a common-law system, better equipped to handle innovation and change. ‘The opportunity now arises for the UK to shed the legacy of codified EU financial services law, and recapture its historical legacy of law-making and implementation, for general economic benefit.’
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