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Government hits back at ‘race to the bottom’ claims as battle over future of City rules rages on
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fnlondon.comChief secretary to the Treasury John Glen has hit back at critics of the government's 'Big Bang 2.0' plans for the City who say the project will amount to a regulatory "race to the bottom".
The government wants to "untether" the financial services sector with "smart, sensible, common sense regulatory reform to spur investment from every corner of the world into UK Plc", Glen told the Bloomberg Global Regulatory Forum on 6 December.
The...
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