Wall Street

The Big-Bang 2.0 fails to make City rules fit for an era of crypto and email not Telex

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City AM

By Sascha O’Sullivan THE Financial Services and Markets Bill 2022, introduced last week, failed to usher in the “Big Bang 2.0” of financial services regulation we were promised. It is true that many of the initiatives contained within the bill are sensible, welcome, and necessary – but they are nowhere near as radical as what is required to address the changes needed to achieve the appropriate regulation of modern financial services institutions in 2022. On a positive note: the bill includes welcome provisions which grant Treasury the power to make onshored EU legislation clearer and more acce…

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