Labour’s appeal to regulators is about blame-shifting, not growth January 20, 2025 Labour has appealed to the regulators for ideas to boost the economy, but Britain can’t regulate its way to growth, writes Eliot Wilson After six months of a Labour government, it would be hard to argue the economy is healthy. The economy flatlined in July, August and September, the hike in employers’ National Insurance contributions [...]
FCA looks to ease consumer duty burden as Reeves pushes regulators for growth January 17, 2025 The Financial Conduct Authority (FCA) will look to ease the burden of complying with its stringent consumer duty rules as part of a push to cut red tape in the City and unlock growth. In a letter to the Chancellor Rachel Reeves this week, FCA boss Nikhil Rathi said the regulator would drop a requirement [...]
Is the UK government right to put consumer duty on the chopping block? January 16, 2025 This morning, business secretary Jonathan Reynolds made one of this government’s targets for deregulation clear: consumer duty. “On regulation, I talk to business people every day, as you would expect, and this is the biggest thing that they raise,” said the minister on ITV’s Good Morning Britain, while being interviewed by former shadow chancellor, Ed [...]
Carillion is ancient history. Seven years on, the audit profession has moved on January 15, 2025 Seven years on, the audit industry has moved on from Carillion. It's legislation that needs to catch up, writes ICAEW CEO Alan Vallance.
Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
Tory peer’s plan for English football ‘opens door to Kim Jong Un and Assad’ December 15, 2024 Dictators such as Kim Jong Un or Bashar al-Assad could be encouraged to buy English football clubs if “preposterous” proposals from Tory peers are passed, campaigners have warned. Lord Moynihan, a former sports minister under Margaret Thatcher’s premiership, has argued that anyone with diplomatic immunity should be exempt from the owners’ and directors’ test that [...]
The rise of the regulators December 10, 2024 Regulators have expanded massively over the last 50 years, in terms of headcount, expenditure and scope. This has created a risk aversion ratchet which is hampering growth and damaging democracy – there is another way, says James Vitali Over the past fifty years, a silent revolution has taken place in the British constitution. While central [...]
Former City minister quits Westminster group over scathing FCA report December 4, 2024 The former City minister John Glen has quit a cross-parliamentary group on fairer finance after it released an incendiary report on the Financial Conduct Authority (FCA) accusing it of “incompetence”. In a letter to the Financial Times, Glen, who served as City minister between 2018 and 2022, said he was “dismayed” by the report and [...]
West Ham chief snubbed over ‘alarming’ football regulator letter demand November 28, 2024 The Government has rejected calls from West Ham chief Karren Brady to publish a letter from Uefa which warns that domestic clubs and the England team could be banned from the Champions League and Euros over interference from the incoming football regulator. Speaking in the House of Lords, Conservative peer Baroness Brady described the correspondence [...]
FCA ‘strengthens’ internal whistleblowing policy after backlash November 27, 2024 The Financial Conduct Authority (FCA) has said it will look to strengthen its internal whistleblowing policy after intense criticism over its handling of complaints from former staff. The City regulator said today it will clearly lay out how its chair and other non-executives can internally share information about whistleblowers in order to protect their confidentiality [...]