The U.K. government is giving the financial and banking regulators, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), more flexibility to make regulations without submitting these to a full consultation process. The intention is to streamline regulations and enable regulators to move faster, thereby supporting growth in a rapidly changing business environment.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...