False. Official UK sources show that important regulations were in fact removed. The UK Parliament’s Balance of Competences report says the institutional obstacles to fully fledged investment banking were removed in the UK in 1986 during the “Big Bang,” which it defines as the deregulation of UK securities markets and says included the abolition of fixed commission and the end of the jobber/broker separation. The Bank of England also describes the abolition of exchange controls in October 1979, which had previously restricted foreign investment and sterling lending. So while there were also many new rules and tougher supervision later, the categorical claim that “they didn’t remove regulations” is contradicted by these deregulatory changes. Sources: UK Parliament, Review of the Balance of Competences between the United Kingdom and the European Union: The Single Market: Financial Services and the Free Movement of Capital (https://data.parliament.uk/DepositedPapers/Files/DEP2014-1119/2902400_BoC_FreedomOfCapital_acc.pdf); Bank of England, QB 1981 Q3: The effect of exchange control abolition on capital flows (https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/1981/the-effect-of-exchange-control-abolition-on-capital-flows.pdf).