Write an essay on the UK financial regulation is characterised by the principles-based regime (PBR) and ‘comply or explain’ approach. Critically discuss the main shortcomings of the PBR in the light of the global financial crisis.the essay requires to examine the UK financial regulatory approach (principles-based regulation and ′comply or explain′ approach) and its pros/cons during the global financial crisis. – it should be also included: -introduction. -the UK financial regulation discusses the history and background. – comply or explain – outcomes( shortly) see FCA Principle 11. – the principle-based regulation: what is PBR? the purpose Aim? advantage and disadvantage of PBR. What will Brexit mean for PBR? – it should include a case: critical discussion a legal case. – also the essay should be including the writer opinion. and finally conclusion. i want the paper to be structured heading and the writer opinion before the conclusion – OSCOLA style.