Chancellor Jeremy Hunt has announced a number of new reforms which aim to help the UK financial services sector grow.
In Brief:
The Edinburg Reforms are more than 30 announcements that deal with aspects from central bank digital currency to Net Zero.
The need for private financing to reach Net Zero targets has been emphasised.
Set to be reformed is “ring fencing” regulations to keep retail and investment banking separate.
What does this mean?
Hunt has said that the point of the reforms is to take advantage of the opportunity, post Brexit, to deliver a more “agile and home-grown" regulatory landscape for the UK – with the Chancellor also highlighting that financial services is a key growth sector for the UK and that it needs to remain open, sustainable and competitive on the world stage.
