Myners promises tough new rules for UK financial sector

Financial firms in the UK can expect tough regulation as the government pushes ahead with reforms to prevent new crises, Paul Myners, Financial Services Secretary, said on Friday.

“No-one should be in doubt that change is coming. We need to go right back to basics and reiterate the industry’s fundamental role. There should be no doubt that the regulation of financial institutions will be tougher in future,” he said in a speech at a Financial Times Global Finance  forum on Friday.

The government’