Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Compliance, Compliance News, Regulatory, UK

NEWS: ‘Crisis-era regulation has gone too far,’ UK Treasury Secretary Reeves announces

CHANGE: "While it was right that successive governments made regulatory changes after the Global Financial Crisis, to ensure that regulation kept pace with the global economy of the time, it's important we learn the lessons of the past," UK Treasury Secretary Rachel Reeves said.

BY SINEAD CRUISE

FINANCE minister Rachel Reeves has promised a reboot of regulation governing Britain’s “crown jewel” financial industry which she said has shackled the City’s global prospects since the global financial crisis and stifled UK economic growth.

According to extracts from her first Mansion House address shared with media, Reeves vowed not to take the UK’s status as a global financial centre for granted, and pledged a raft of growth-focused reforms to earn and preserve this position.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!