Reforms to ringfencing rules for banks, curtailing the FCA’s consumer duty rules, curbing the powers of the Financial Ombudsman Service and allowing banks to offer mortgages to more low-income applicants were some of the key changes confirmed by UK chancellor Rachel Reeves during her much anticipated Mansion House speech on
UK chancellor calls for greater risk appetite in latest push to cut regulation
Rachel Reeves says pendulum has “swung too far” after 2008 and calls on investors and regulators to take more informed risk to support growth.