Chancellor to get rid of EU regulatory regime in financial services sector and replace it with a UK-specific one
Rishi Sunak has moved to weaken regulation of financial services brought in after the 2008 crash amid fears he is aiming to make London into a post-Brexit “Singapore-on- Thames” pushed by Tory donors.
He is bringing forward a new financial services and markets bill as part of the Queen’s speech with the aim of “cutting red tape in the financial sector”.