Reeves to tell regulators to dial up risk in UK financial services

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The story "Reeves to tell regulators to dial up risk in UK financial services" was covered 11 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 11h ago

Reeves to tell regulators to dial up risk in UK financial services - Financial Times

Quick Summary:

Speaking at the same Mansion House dinner, Bailey will call for the UK to resist the tide of protectionism as he underscores the need to raise the country’s economic potential.“The picture is now clouded by the impact of geopolitical shocks and the broader fragmentation of the world economy,” he will say.

Some regulatory experts argue that political pressure on watchdogs to promote growth risks clashing with their primary objective to preserve a safe and stable financial system.

The chancellor told the Financial Times on Wednesday that talk of the risk of a trade war was “a bit over the top” but added: “We believe in free and open trade.