Rishi Sunak: Don’t deregulate the banks

28,672 people have already signed

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To: the Prime Minister and the Chancellor

We call on the UK government to reverse plans in the Financial Services and Markets Bill to water down laws put in place after the 2008 financial crisis to stop banks causing another crash. In particular, we call on you to:

Abandon the dangerous proposal that financial regulators must promote the ‘international competitiveness’ of the finance industry – the opposite of what a regulator should be doing.
Abandon proposals to remove binding restraints on commodity markets, and take action to remove excessive speculation in the setting of food and energy prices.
Maintain the cap on bankers’ bonuses, in order to tackle inequality and excess pay.

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Rishi Sunak

Many of the rules introduced after the 2008 financial crisis are set to be scrapped under Rishi Sunak's plans for the City of London.

He wants to remove the cap on bankers’ bonuses, compel financial regulators to turn a blind eye to future risk-taking, and remove rules brought in to stop bankers gambling on the price of food and energy.

We need to stop this bonfire of banking rules and make finance work for people and planet, not the other way round. Please sign and share the petition now.

Global Justice Now is part of Finance for Our Future coalition

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Photo: Lauren Hurley/No 10 Downing Street (CC BY-NC-ND 2.0)

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