Conservatives will slash the regulations holding the City back

cityam06-18

The reforms Kemi Badenoch announces today will see the end of ringfencing and the end of an unfair international disadvantage imposed through capital requirements set by regulators. This is only the ...

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This is only the ...</p>\n\n<a href=\"https://www.cityam.com/conservatives-will-slash-the-regulations-holding-the-city-back/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CHCO","symbol_name":"City Holding Company","start_time":0,"source_url":"https://www.cityam.com/conservatives-will-slash-the-regulations-holding-the-city-back/","article_id":"2644709392","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/06/kemibadenochstrongereconomy.jpeg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/conservatives-will-slash-the-regulations-holding-the-city-back/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2644709392","pubTimestamp":1781772695,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Regulators went awry while politicians in Westminster practiced panic over policy. The same has been true of the evolution of the regulatory rulebook since, which has focused on doing a little of everything  while doing nothing well.In the 1980s, the city had one person working in regulation for every 11,000 working in the financial sector; today it has one for every 75. I remember the day I discovered there were 5,400 people working in the FCA alone, few with a background as risk taking practitioners. Banks receive thousands of pieces of correspondence from various regulators, taking part in hundreds of meetings every year. The result has been a 33.9bn annual cost to the sector: 33.9bn not being spent on providing capital, improving returns, and consequentially gr","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CHCO":"City Holding Company","BK4211":"区域性银行"},"translate_title":"保守派将削减阻碍该市发展的法规","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHCO":1.5},"content_text":"The reforms Kemi Badenoch announces today will see the end of ringfencing and the end of an unfair international disadvantage imposed through capital requirements set by regulators. This is only the start. We will go further, says Andrew GriffithIf, like me, you left university to work in the city in the 1990s, you will know what it felt like to work at the world’s greatest intersection of capital and private enterprise.  The place where exciting ideas and top talent met the financial backing that made Britain one of the richest countries in the world. If you knew the city then, you would know how much it has changed, and just how much it has been held back.What we, the Conservatives under Kemi Badenoch’s leadership have announced today, while very technical in parts, is the foundation of a fight back. Just as I inherited a financial sector built over centuries, in coffee shops that became Lloyds and the London Stock Exchange, and renewed by Mrs Thatcher’s big bang, we will create a city worthy of the next generation.As we set out today, Britain’s financial services industry is in trouble. Despite its vitality, storied history, and deep strengths, we are losing ground to rivals in the US, Europe, and Asia. Where once London was the premiere European capital for IPOs, others have fast been catching up. And as productivity has dropped, it is no coincidence that the financial services rulebook has only grown while gold-plated and vague regulations have choked success.\n\nMuch of this stems from the hyperventilating approach to risk that has taken hold since the financial crisis. No one wants to see a repeat of Northern Rock, but many of the reforms put in place would never have achieved that. Instead, they placed onerous limits not only on the type of speculation that caused this global crash, but on the ability of banks to lend to legitimate businesses, insurance to invest, and the economy to grow as a result of a healthy provision of credit and capital.\n\n\n\n\n\n\nFree Thinking - City AM Opinion Newsletter\nGet weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from City AM’s Opinion Editor, delivered every Saturday.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRegulators went awry while politicians in Westminster practiced panic over policy.  The same has been true of the evolution of the regulatory rulebook since, which has focused on doing a little of everything (net zero, EDI, ESG) while doing nothing well.  In the 1980s, the city had one person working in regulation for every 11,000 working in the financial sector; today it has one for every 75. I remember the day I discovered there were 5,400 people working in the FCA alone, few with a background as risk taking practitioners. Banks receive thousands of pieces of correspondence from various regulators, taking part in hundreds of meetings every year. The result has been a £33.9bn annual cost to the sector: £33.9bn not being spent on providing capital, improving returns, and consequentially growing the economy.I remember the days when a 40-page prospectus was considered long. Before some of the reforms enacted under the last government it was not uncommon for them to run to 400. I remember the days before European five-letter acronyms like MIFID or PRIPS ruled the roost in a market that far predates most modern European states – and before they did it outcompeted them too.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2644709392","isCrawlerRequest":true}