How financial services firms can navigate political uncertainty

Weathering the storm

clock • 4 min read

Much dialogue around Brexit’s impact on the City of London centred on what papers and politicians dubbed the ‘bonfire of rules’ – a phrase designed to capture the belief that onerous European Union (EU) regulation was holding back UK financial sector performance.

These are complex issues, with opinion among financial services leaders on the ‘right' style and level of regulation as varied as the views we see across the political spectrum. If we were forced to generalise, many larger UK firms are hoping for post-Brexit regulatory stability balanced with reform in specific areas. Meanwhile new entrants are more likely to argue that existing regulation grandfathered in from the EU favours large incumbents and is anti-competitive. Enter the UK's Financial Services and Markets Bill (FSM), characterised as an attempt to ignite said bonfire, but prima...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Markets

Market Movers: Could Rachel Reeves have the Kwarteng mini-Budget market effect?

Market Movers: Could Rachel Reeves have the Kwarteng mini-Budget market effect?

Markets prompted to rule out two interest rate cuts this year and gilt yields climb

Professional Adviser
clock 01 November 2024 • 1 min read
Bank of England holds rates at 5.25% in final pre-election decision

Bank of England holds rates at 5.25% in final pre-election decision

'The MPC would not want to be perceived as politicking'

Cristian Angeloni
clock 20 June 2024 • 1 min read
Inflation officially back to Bank of England's target level of 2%

Inflation officially back to Bank of England's target level of 2%

Data shows a 2% year-on-year fall ‘in line with consensus expectations’

Hope Coumbe
clock 19 June 2024 • 2 min read