UK Labour Party electoral proposal for financial services sector

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The UK Labour Party has published its electoral proposal for the financial services sector.

The party has announced its intentions to:

  • Streamline the regulatory rulebook to align with the Consumer Duty;
  • Promote securities tokenisation and a central bank digital currency (CBDC);
  • Establish a regulatory sandbox on the inclusivity of financial products;
  • Take an integrated approach to tackling fraud involving government, law enforcement, regulators, financial services firms, and tech companies; and
  • Regulate the ‘Buy Now Pay Later’ (BNPL) sector.

Ahead of the UK General Election, firms can view the party proposal to gain insights into the potential trajectory of UK financial services regulation.

https://labour.org.uk/wp-content/uploads/2024/01/Financing-Growth.pdf

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