'Red tape' review will rebalance regulatory risks

The Government has tasked the Financial Conduct Authority with reviewing and streamlining its rules in order to "free up resources for businesses to innovate and to grow". Emma Radmore examines what changes are already happening or are under consultation, along with other initiatives we might expect from the regulator in the next year or so.

Emma Radmore is legal director in the UK Financial Regulation team at Womble Bond Dickinson. Contact her on emma.radmore@wbd-uk.com.

Against the backdrop of the Chancellor's announcement in her first Mansion House speech of five priority growth opportunities for its strategy, the FCA has made a start on several initiatives that will, variously, cut unnecessary red tape, make regulation more proportionate and target regulatory attention on areas of greatest possible harm. While it's not ripping up the rulebook and starting again, some parts of the Handbook will look significantly different if everything goes to plan.