A pact to make it easier for billionaires to hide their wealth?
this post was submitted on 22 Dec 2023
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UK Politics
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This is the best summary I could come up with:
The bosses of British finance firms have welcomed the fact that the deal is "dynamic", which means that the relationship will evolve as regulation in both markets changes over time.
Finance chiefs in the UK hope that the Swiss deal will form a model for agreements with other major financial centres - with Singapore mentioned by several people contacted by the BBC.
It has also seen a number of high-profile UK based companies, including ARM Holdings, move their primary stock market listing to New York.
The signing will provide some cheer for both sides when Mr Hunt and his counterpart Karin Keller Sutter meet on Thursday.
In the wake of the UK's exit from the EU, the government has been trying to overhaul financial regulation to improve London's attractiveness in comparison with other European rivals.
Just over a year ago, Mr Hunt announced the so-called Edinburgh Reforms - 31 measures that included plans to scrap a cap on bankers' bonuses and allowing insurance companies to invest in long-term assets such as housing and windfarms.
The original article contains 569 words, the summary contains 174 words. Saved 69%. I'm a bot and I'm open source!
scrap a cap on bankers bonuses
allowing insurance companies to invest in... housing
Welp, let's fuck up the housing market even more to allow for corporate greed and an even worse wealth dispersal.