Reeves Vows to Overhaul Ring Fence Rules in Mansion House Speech
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Chancellor of the Exchequer Rachel Reeves pledged to shake up post-crisis rules that are meant to shield consumers' money from the vagaries of investment banking as the UK government looks to the finance sector to help spur economic growth.
The reform to the UK's so-called ring-fencing rules will be 'meaningful,' Reeves said in prepared remarks for her annual Mansion House speech in the City of London. She also highlighted plans to spur homeownership by easing access to mortgages and vowed to slash rules that govern the conduct of London's top bankers.
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