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BBG-Gov't To Unveil City Of London Reform Package 9 Dec

UK

Bloomberg reporting that the gov't is set to outline a package of reforms for the UK financial services sector on Friday 9 December.

  • There have been reports in recent weeks that a plan is set to be unveiled, but there had been no confirmation of dates until now.
  • FTreported on 29 Nov on the plans, writing, "Britain is poised to relax one of the biggest restrictions on the banking sector as part of “Big Bang 2.0”, the long promised liberalisation of post-Brexit financial services rules. [...] Andrew Griffith, City minister, told an FT banking summit on Tuesday that change was coming, saying: “We can make the UK a better place to be a bank, to release some of that trapped capital over time around the ringfence. The move is part of a broader package of City reforms being drawn up by Griffith that are intended to boost the competitiveness of the financial sector, some of which will take advantage of “Brexit freedoms”.
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBank Of England (BOE) Market NewsBulletUKMarketsFixed Income BulletsForeign Exchange Bullets

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