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ARTICLE · 23 JANUARY 2023

The Edinburgh Reforms: An Offshore Perspective

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On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to the UK financial services sector, known as the "Edinburgh Reforms".

United KingdomFinance and Banking
Andrew Weaver
Andrew Weaver
Jeremy Berchem
Jeremy Berchem
Juan Thornley
Juan Thornley
Gemma Whale
Gemma Whale
Katherine Garrood (Née Johnson)
Katherine Garrood (Née Johnson)
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On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to the UK financial services sector, known as the "Edinburgh Reforms".

The reforms aim to support the UK government's ambitions for the UK to be the "world's most innovative and competitive global financial centre." The Edinburgh Reforms are also presented as an opportunity to capitalise upon "Brexit freedoms", taking advantage of the UK's position outside of the EU, to build a smarter regulatory framework. In the UK Government's own words, the Edinburgh Reforms "set out plans to repeal, and replace, hundreds of pages of burdensome EU retained laws governing financial services".

There are 30 policy initiatives within the Edinburgh Reforms, which are grouped into four categories:

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