Blog: Attys Warn Gov’t Risks Ruining Financial Regs With Reforms – Law360

By Alex Davidson (September 9, 2022, 5:41 PM BST) — The appointment of a new prime minister gives the U.K. the opportunity to conduct a root-and-branch overhaul of the regulatory regime to keep it competitive rather than risking politicized government intervention in rule-making that could compromise the watchdogs’ independence, according to lawyers.

Lawyers have raised concerns about the Treasury’s plan, announced on Wednesday, to amend the Financial Services and Markets Bill to allow the government to make or remove the rules when in the public interest — because it could act for politicized reasons. 

The bill is designed to give the country’s financial regulators more power in a way accountable to…

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