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The UK financial services shakeup: Is it all style over substance?

By Phoebe Seers ( March 12, 2025, 14:03 GMT | Comment) -- A massive shakeup of UK financial services in the last few hours has seen the payments regulator axed — and diversity and inclusion initiatives abandoned — along with a plan to start naming regulated firms that come under investigation. Taken together, the government looks like it’s serious about ripping up unnecessary regulation to free up firms to grow. Is this the catalyst for economic growth that the government claims it to be? Or will the tangible impact be more muted, especially since the policies to be scrapped hadn’t yet come into effect?A massive shakeup of UK financial services in the last few hours has seen the payments regulator axed — and diversity and inclusion initiatives abandoned — along with a plan to start naming regulated firms that come under investigation. New rules on non-financial misconduct, such as bullying and harassment, have also been delayed until the summer. ...

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