Truss weighs plans to merge top financial regulators - reports

Financial regulation overhaul

Valeria Martinez
clock • 2 min read

Liz Truss, frontrunner to be the next prime minister, is set to immediately review the roles and responsibilities of the City of London’s top regulators if she wins, campaign insiders told the Financial Times.

Truss, who is reportedly privately critical of the Financial Conduct Authority, is weighing up plans to merge the regulator with the Prudential Regulation Authority, which sits within the Bank of England, and the Payments Systems Regulator into a new body. A well-placed financial services executive told the Financial Times that the foreign secretary, who is currently 32 points ahead of Rishi Sunak in the latest Conservative party members poll, wants to overhaul financial regulation as part of "a wider war on technocrats" and civil servants. FCA accused of 'hanging investors out to dry...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

UK can avoid US' T+1 implementation errors by prioritising 'key' automation

UK can avoid US' T+1 implementation errors by prioritising 'key' automation

Faster settlement needed

Patrick Brusnahan
clock 11 June 2025 • 3 min read
FCA sets out 'reduction and simplification' of Assessment of Value requirements

FCA sets out 'reduction and simplification' of Assessment of Value requirements

AFMs to have 'greater flexibility'

Cristian Angeloni
clock 06 June 2025 • 2 min read
FCA to withdraw ban on crypto ETNs to boost UK growth

FCA to withdraw ban on crypto ETNs to boost UK growth

Financial promotion rules to still apply

Patrick Brusnahan
clock 06 June 2025 • 2 min read
Trustpilot