London Daily

Focus on the big picture.
Friday, Aug 29, 2025

Hunt to back review of City ‘unbundling’ in Big Bang 2.0 reforms

Hunt to back review of City ‘unbundling’ in Big Bang 2.0 reforms

The chancellor will this week unveil an independent review of a key area of the EU’s Mifid-II reforms introduced in 2018 as part of a package aimed at boosting City competitiveness.
Jeremy Hunt, the chancellor, will this week commit to a review of City ‘unbundling’ as part of a package of deregulatory reforms aimed at bolstering London’s post-Brexit competitiveness.

Sky News has learnt that Mr Hunt will announce as soon as Friday that the measures - dubbed 'Big Bang 2.0 in the City and Whitehall - will include a commitment to independently review provisions contained in Mifid-II, a Europe-wide law introduced in 2018.

A source said an external figure was likely to be appointed to oversee the review.

One of the key provisions in Mifid-II related to unbundling, or separating, of buying investment banks' research from costs incurred from the purchase or sale of securities, and was aimed at removing a potential conflict of interest.

Some City figures have argued that unbundling has hampered the City's competitiveness, although a 2019 review by the Financial Conduct Authority found that Mifid-II research rules were largely working as intended.

Mr Hunt is expected to outline his package of financial services reforms at a roundtable meeting with industry executives in Edinburgh.

The chancellor is also likely to say that the ring-fencing rules established for Britain's biggest banks after the 2008 financial crisis will be relaxed, with the deposits threshold for participating lenders raised from £25bn to £35bn, according to one industry executive.

Andrew Griffith, the new City minister, recently referred to potential changes to ring-fencing in the context of recommendations made to the government last year by Keith Skeoch, the former boss of Standard Life Aberdeen.

Other measures expected to be embraced by Mr Hunt this week include those focused on improving the efficiency of securitisation and other areas of the financial markets.

The Treasury did not respond to an enquiry on Tuesday.
Newsletter

Related Articles

0:00
0:00
Close
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
×