Chancellor Rachel Reeves met with senior fintech representatives at No. 11 Downing Street last week to discuss growth opportunities and new draft legislation aimed at streamlining financial regulations.

The proposed reforms focus on updating the Markets in Financial Instruments Directive (MiFID) rules inherited from the EU. These changes will grant the Financial Conduct Authority (FCA) greater authority to remove redundant regulations, fostering a more business-friendly regulatory environment that supports economic growth.

First announced in the Chancellor’s Mansion House speech last November, this initiative is a key step in the government’s wider strategy to reform the UK’s wholesale financial markets and enhance the country’s global investment appeal.

Chancellor Reeves highlighted that these reforms will make the UK’s financial rulebook more competitive, allowing firms to expand, invest, and contribute to economic growth.

Readmore – https://www.gov.uk/government/news/chancellor-and-fintech-bosses-to-slash-duplicative-and-burdensome-rules