On 15 July 2025, the government announced the so-called ‘Leeds Reforms’ that are intended to rewire the UK financial system, boost investment and create skilled jobs across the UK.

Among other things the announcement notes that:

  • From April 2026 the Financial Conduct Authority will roll out Targeted Support – allowing banks to alert customers about specific investment opportunities to consider shifting money from a low-return current accounts to higher-performing stocks and shares investments. 
  • The government will allow Long Term Asset Funds to be held in Stocks & Shares ISAs next year.
  • A new concierge service within the Office for Investment will harness UK networks globally to actively court international financial services companies, creating a one-stop-shop to promote the UK and provide tailored support to help businesses plan where to invest based on their needs.
  • The Senior Managers and Certification Regime will be streamlined, cutting the burden on firms in half.
  • The Financial Ombudsman Service will be returned to its original purpose.
  • New Basel 3.1 banking rules will be introduced from January 2027.