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HMT action plan sets out UK’s new approach to regulation and regulators

HM Treasury sign, a government building in Westminster London, United Kingdom.
Photo: Getty Images

Norton Rose Fulbright LLP

2 min read
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Key points for financial services include rationalising FCA/PRA priorities and the role of the FOS; and detailed pledges from regulators to promote growth.

On March 17, 2025, HM Treasury (HMT) published an action plan setting out its new approach to ensure regulators and regulation support growth.

Background to the change in approach

HMT begins by highlighting the importance of regulation, which “underpins and impacts almost all areas of the UK economy.” It warns that

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