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PIMFA WEEKLY NEWS BULLETIN | 21 June 2021 Dear Nigel,
Welcome to the PIMFA Bulletin; grab a coffee and take 10 minutes to read this week's latest industry news impacting you and your firm.
A bold new regulatory framework for the UK
The Taskforce on Innovation, Growth and Regulatory Reform (TIGRR) has reported its recommendations to the Prime Minister on how the UK can reshape its approach to regulation and seize new opportunities from Brexit. The Prime Minister asked the Rt Hon Sir Iain Duncan Smith MP, the Rt Hon Theresa Villiers MP, and George Freeman MP to form the Taskforce to identify and develop proposals across a range of areas that will drive innovation, growth and competitiveness through regulatory reform.
The report includes around 100 recommendations, which the Taskforce believes would make a material difference to the UK’s economic growth without reducing the UK’s commitment to gold standard protections for consumers, workers and the environment. The recommendations cover three areas: 1. A bold new UK regulatory framework based on core principles of UK law; 2. Specific regulatory reforms in high-growth sectors in which we see particular opportunities for the UK; and 3. proposals for how these reforms could be delivered.