Financial sector rules slacked by growth-seeking government

30 changes to financial services regulation are expected today

James Baxter-Derrington
clock • 2 min read

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. A widespread review is also planned to repeal hundreds of pages of European Union (EU) law, ranging from disclosure for financial products to prudential rules for banks. The government claims some of these EU rules ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

A generational opportunity for financial advisers

A generational opportunity for financial advisers

Advisers could be the beating heart of Britain’s recovery

Tony Müdd
clock 06 November 2025 • 2 min read
Reeves focuses on NHS waiting list ahead of Budget

Reeves focuses on NHS waiting list ahead of Budget

Calls to slash IPT on PMI

Cameron Roberts
clock 04 November 2025 • 2 min read
Protection didn't make the Targeted Support cut and rightly so!

Protection didn't make the Targeted Support cut and rightly so!

Saving for tomorrow and protecting today

Tony Müdd
clock 30 October 2025 • 3 min read