Is financial services regulation really the 'boot on the neck' of business?

Chancellor Rachel Reeves has stated her intention to cut red tape in the financial services sector to help accelerate economic growth. She has called regulation the "boot on the neck" of businesses – signalling a desire to move to a leaner and less risk-averse approach to oversight. In particular, the chancellor has called for the Financial Conduct Authority (FCA) to review Consumer Duty and its impact on wholesale firms – and, in the process, has stirred up speculation about its future. It seems that some in financial services heard the chancellor's comments about deregulation and Consu...