UK government to introduce financial services reform bill in King’s Speech

9 articles · Updated · Bloomberg · Apr 26

The bill, set for announcement on May 13, will merge the payments watchdog into the FCA and reform the financial ombudsman.
It aims to ease rules for senior financial staff and abolish the mandatory annual certification regime for senior employees in financial services.
This overhaul targets longstanding criticisms of City of London regulations and is expected to significantly reshape oversight and compliance requirements for UK financial institutions.

With fewer rules for senior bankers, who will prevent the next financial scandal?

Will easing senior manager rules help the UK attract top talent or just more risk-takers?

Is the UK's financial deregulation a boost for the City or a disaster for consumers?

As the payments watchdog is absorbed, will fintech innovation be stifled or supercharged?

How will the reformed ombudsman balance fairness for consumers against new rules favoring firms?