Jeremy Hunt is set to launch a major reform of the UK’s financial sector, with plans to rip up red tape and replace reams of EU regulations.
Dubbed the “Edinburgh reforms”, the changes will be announced by the Chancellor in the Scottish city later today. as he heralded the “golden opportunity” Brexit provided to reshape the rules governing the financial sector.
Hunt will set out a package of more than 30 regulatory reforms, with plans to “review, repeal and replace” hundreds of pages of EU regulations ranging from disclosure for financial products to prudential rules governing banks.
