Financial sector rules slacked by growth-seeking government

Edinburgh reforms

The government has announced a package of reforms of the financial sector in a bid to spur growth in the UK economy.

Bank ringfencing rules are set to be watered down in one change, so banks without major investment activities are released from the regime. The chancellor is also expected to issue new mandates to the Financial Conduct Authority and the Prudential Regulation Authority, setting out how they will help deliver growth and promote the international competitiveness of the UK. Chancellor Hunt to launch review of Senior Managers and Certification Regime - reports A widespread review is also planned to repeal hundreds of pages of EU law, ranging from disclosure for financial products to pru...