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Are the UK government’s Edinburgh Reforms really a Big Bang 2.0?

Picture: Martin Sandler, Eversheds/ Getty Images

Carmen Cracknell

2 min read
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The British government is looking to repeal and replace Retained EU Law (REUL) relating to financial services in a package of measures dubbed the Edinburgh Reforms.

The “Building a smarter financial services framework for the UK” paper unveiled in December 2022 was billed as a Big Bang 2.0 for the City of London. Chancellor Jeremy Hunt unveiled a package of 30 measures he said was an attempt to create “an agile, proportionate and home-grown regulatory regime”.

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