The Edinburgh Reforms - ensuring regulator accountability

With greater power comes greater responsibility

by Romin Dabir

Last year's Autumn Statement - which saw the UK's financial services sector highlighted as a key area of growth - heralded the announcement of the Edinburgh Reforms, a set of proposals partly aimed at driving growth and competitiveness within the sector. The Financial Services and Markets Act 2023 (the Act), which received Royal Assent in late June, provides the underpinning for many of these reforms, including the framework in which the UK's financial services regulators operate.