Chancellor Rachel Reeves met with senior Fintech representatives at No. 11 Downing Street last week to discuss growth opportunities as well as 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 empower the Financial Conduct Authority (FCA) to eliminate redundant regulations, creating a more business-friendly regulatory environment that supports economic growth.
This initiative, first announced in the Chancellor’s Mansion House speech last November, is a key step in the government’s broader plan to reform the UK’s wholesale financial markets and enhance the country’s global investment appeal.
Chancellor Reeves emphasised that these changes will make the UK’s financial rulebook more competitive, enabling firms to grow, invest, and contribute to economic expansion.
