Statement
Published: 9 December 2022
BAB Welcomes Regulatory Reforms of UK Financial Services Sector
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Contact: Dominic Parker, Senior Communications & Media Manager
dparker@babinc.org | 020 7290 9882 | +44 7500 115352
Today, the Chancellor of the Exchequer, Jeremy Hunt, announced a package of reforms to Financial Services regulation in the UK designed to encourage growth and enhance the UK’s competitive position as a global centre for the financial services industry.
Commenting on the announcement, Duncan Edwards, CEO of BAB said, “BAB members in the financial services sector will welcome this announcement by the Chancellor and applaud the ambition to review and remove unnecessary and outdated regulation. This is an ambitious reform package which rightly includes a review not only of regulation inherited from the EU but also of the domestic regulatory framework for financial services business. The objective should be to ensure that the UK remains the best place for international financial firms to do business.”
Read the British government’s announcement here.
About BritishAmerican Business
BritishAmerican Business is the leading transatlantic trade association incorporating the British-American Chamber of Commerce in the US and the American Chamber of Commerce in the UK.
We are committed to strengthening the economic corridor between the United States and the United Kingdom by supporting policies and actions that protect and enhance the environment for transatlantic trade and investment on behalf of our members.
We convene and serve a growing network of companies and business leaders through networking opportunities, bespoke programming and marketing platforms.
We actively promote trade and investment and support those who make the transatlantic corridor part of their business growth ambition.