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 Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA removes regulatory permissions from advice firm over breaches

FCA removes regulatory permissions from advice firm over breaches

Ups assets restriction and notes unpaid FOS award

Jen Frost
clock 22 December 2025 • 2 min read
 FCA chief: No allegations of Budget leak market abuse so far

FCA chief: No allegations of Budget leak market abuse so far

Told MPs on the Treasury Committee the leak caused serious concern

Alex Sebastian
clock 16 December 2025 • 3 min read
FCA's non-financial misconduct rules 'opaque' over social media activity

FCA's non-financial misconduct rules 'opaque' over social media activity

Lack of definitions and case studies

Cristian Angeloni
clock 16 December 2025 • 2 min read