Self-induced fear of the bond markets My post on how: *Prime Minister should meet civil society heads, not just industry bosses *UK risks a grave error in its response to the current economic crisis due to this self-induced fear of the bond markets www.linkedin.com/posts/mick-m...

Another Financial Conduct Authority (FCA) climbdown. This time on motor finance misselling redress. www.linkedin.com/posts/mick-m...

Bank shareholders and bosses are coining it in. Meanwhile, millions experience financial exclusion and discrimination. Time for a Fair Banking Act and Financial Inclusion and Regeneration Levy. www.linkedin.com/posts/mick-m...

The FCA and the defence sector The main UK financial regulator has made a remarkable decision to prioritise authorising investment funds that focus on investing in the defence industry. Has FCA Board thought this through? See my article www.linkedin.com/posts/mick-m...

The UK National Wealth Fund (NWF). My take on whether the NWF is structured to act in the public interest or the interests of private finance, and is contributing to the financialisation of society. www.linkedin.com/posts/mick-m...

On @BBCr4today Lady Mayor of the City of London said the City paid for half NHS budget. Yet again claims like this unchallenged by the media. A very partial, limited, misleading way to evaluate the City. Ignores the huge costs. See this post @BBCBusiness www.linkedin.com/posts/mick-m...

So, we live in an economically uncertain world with millions financially vulnerable. The UK's already weak social security safety net condemns people to poverty and that is being further weakened? Go figure. The Spring Statement in brief: what you need to know - on.ft.com/3XZvs5i via @FT

Genuine question. In what way is stablecoin an economically and socially useful innovation? How does this add any real value over and above existing payment mechanisms, especially when the additional risks are factored in? Banks and fintechs join ‘stablecoin gold rush’ - on.ft.com/3Dov8WN via @FT

Finance is really emboldened by the aggressive deregulation agenda. Revolut and Visa file legal challenges against UK payments regulator - on.ft.com/41L3Z9D via @FT

There's a narrative developing that UK regulators regulate for risk, not growth, and are holding back 'buccaneering' risk capital. Actually, private finance lobbies want corporate welfare in the form of 'derisking' by the state. My take. www.linkedin.com/posts/mick-m...

Good to see Chair of Treasury Committee say this on City deregulation. When I gave evidence to the TSC, I said consumer groups were 'massively outgunned' by well resourced finance lobbies. Show me the evidence that City deregulation will help growth - on.ft.com/3EI32pF via @FT

Good to see the FT wake up to the huge risk of regulatory arbitrage driving a race to the bottom on critical financial market safeguards. Trump’s reckless experiment with financial deregulation - on.ft.com/4b31geQ via @FT

'It is estimated the digital universe doubles in size every two years, with 2.5 quintillion bytes of data created every day.' Fascinating and unsettling read. The human mind is in a recession - on.ft.com/41fQIpo via @FT

My article on how 'blended finance' models and public/private partnerships are about socialising the risk, privatising the rewards to the advantage of private finance. We will pay a huge price unless safeguards are put in place to prevent value extraction. www.linkedin.com/pulse/blende...

I keep saying civil society needs to get its act together. Deregulation is being used as a national economic policy tool. Corporates will deploy regulatory arbitrage to play nation states and trading blocs off against each other. x.com/SaulStanifor...

Really hope this is being thought through properly. What happens if the pension surpluses disappear cos rates and bond yields fall? Which is presumably what the Government wants? Will employees get to share in the surpluses? www.reuters.com/world/uk/uk-...

How disappointing. www.theguardian.com/environment/...

How is this a sensible idea? Rachel Reeves backs plans for looser limits on mortgage lending - on.ft.com/3PJaXp2 via @FT

Financial innovation, eh? 'As returns went down, fees went up' 'Up to the year 2000, the hedge fund fee take had been running at around a third of overall gains, but since then it has increased to a half' Hedge fund managers pocket nearly half of investment gains as fees - on.ft.com/40Pt3w5 via @FT

Financial Conduct Authority 'growth letter' to the Prime Minister. Looks like yet more financial deregulation on the way. The lessons of the past appear to have been forgotten. www.linkedin.com/posts/mick-m...

New report from Financial Inclusion Centre 'Shedding light on finance and the financial regulators'. We cannot tell how well The City serves the real economy, environment, and consumers. Nor can we tell how well financial regulators are doing. www.linkedin.com/posts/mick-m...

Yet more financial deregulation on the way. Private finance lobbies are dictating financial policy and regulation. We're being played. www.linkedin.com/posts/mick-m...

The financialisation of the core social infrastructure of the UK continues. And no doubt private finance will try to rebrand this as 'social impact', 'inclusive capitalism', 'productive finance', 'purpose based finance' etc. on.ft.com/3PenoJa via @FT

'Bottom third of US consumers are tapped out,' 'Their savings rate right now is zero.' Will low savings/ financial resilience in UK lead to similar? Or has tougher FCA consumer credit regulation protected most financially vulnerable from the worst? on.ft.com/4gQcxRo via @FT

Not good. As I said at the recent Treasury Committee hearing the secondary growth and competitiveness objective is becoming a de facto primary objective for regulators. Looks like this is being confirmed. Expect finance lobbies to push for yet more deregulation. news.sky.com/story/starme...

It's remarkable that policymakers and regulators are making such a concerted effort to encourage pension funds and others to invest in alternative assets. A sector which is poorly regulated and governed, with questionnable performance. on.ft.com/41OTZgg via @FT

Regulators give in to big finance lobby yet again. This time EU finance regulator ESMA weakening rules on green finance. Whole ESG 'disclosure' regime is a mess, designed to suit finance' needs rather than expose the degree of climate harm financed by finance. on.ft.com/3BNwQ2X via @FT

Good article about a financial 'innovation' (not actually new BTW mostly rebranding and repackaging). Remember, 'risk' doesn't disappear. It gets relocated. And 'innovations' like this can create an illusion of better risk management in the broad system. on.ft.com/49PjGiv via @FT

This is v interesting. But, 3 thoughts spring to mind. 1. As finance becomes even more complex and 'sophisticated' are they any better at their core function of allocating resources effectively? I don't think so. 1/ Liquidity risks in markets are not intractable - on.ft.com/4gJ9cnn via @FT

Very disappointing. Millions will face an impoverished retirement. Government could have reformed hugely costly pensions tax relief, used savings to boost pensions of low income households. As with long term care, UK very bad at long term thinking. on.ft.com/3OX8XZK via @FT

Financial Inclusion Centre submission to HM Treasury consultation on buy now, pay later products. This risky 'embedded finance' encourages overconsumption of credit. www.linkedin.com/posts/mick-m...

Interesting read in FT about Bank of England assessment of risks in the non-bank financial system. Risk hasn't gone away. It's been displaced to less well regulated/ governed/ transparent parts of the system. This needs close monitoring. www.linkedin.com/posts/mick-m...

Regulatory arbitrage here we come? www.reuters.com/world/uk/uk-... See my essay: Will we see a regulatory race to the bottom as a result of the new US administration? If so, how will UK and EU civil society respond? www.linkedin.com/pulse/we-see...

A very good read on the risks of weakening financial regulation and pursuing 'growth and competitiveness' in financial services. We've been here before. Fix UK financial services culture before softening regulation - on.ft.com/3OrdR0Q via @FT

Very important new analysis of the debt burden experienced by low income UK households concealed by the headline aggregate data. bit.ly/3B10scM

My essay on the risk of regulatory arbitrage as a result of the incoming US administration, two competing visions for the City of London, and how UK and EU civil society should respond. www.linkedin.com/posts/mick-m...

Chancellor's Remit Letter to Financial Conduct Authority. Great to see a financial inclusion 'have regard' given to FCA. But, campaigners must be careful. Finance lobbies claim regulation causes exclusion. This have regard could be a Trojan Horse for deregulation. www.linkedin.com/posts/mick-m...

UK Government confirms regulation of ESG ratings providers. Good. But the new regime is unlikely to hold finance to account for continuing to finance at scale climate harm. On the 'S' part of ESG, standards are so low it won't prevent 'impact washing'. See: www.linkedin.com/posts/mick-m...

My take on the Mansion House speech. There are many happy finance sector lobbies this morning. And why wouldn't they be? Things are very much going their way. www.linkedin.com/posts/mick-m...

Tonight's Mansion House speech. Reforms to UK local government pension schemes. Governance will be critical. Also, potential reversal in hard won consumer protection gains on the cards? Regulatory independence further compromised? V risky given new US administration threatens regulatory arbitrage.

Rich countries met $100bn climate-finance goal by ‘relabelling existing aid’ | @joshgabbatiss.bsky.social #CBarchive Read here ➡️ https://buff.ly/3YK6Rkt