Bank of England Establishes New Cost Benefit Analysis Panel with PRA to Evaluate Regulatory Changes

The Bank of England has announced the establishment of a new Cost Benefit Analysis Panel in collaboration with the Prudential Regulation Authority (PRA). This panel will provide guidance on preparing cost benefit analyses when the PRA and the Bank propose new regulations or amend existing rules affecting firms and financial market infrastructures. The initiative aims to enhance the regulatory framework by ensuring that proposed changes are thoroughly evaluated for their economic impact.