Treasury open to the regulation of commercial lending areas


Law360, London (May 27, 2021, 7:37 p.m. BST) – Chancellor of the Exchequer Rishi Sunak told lawmakers on Thursday he was ready to discuss increased monitoring of commercial loans with the UK’s financial watchdog after the Greensill saga, marking new thinking would strengthen oversight of activities such as supply chain finance.

He told the House of Commons Treasury Committee that HM Treasury is awaiting news from the Financial Conduct Authority on a review of regulatory lessons from the high-profile collapse of Greensill Capital before considering modifying corporate lending.

Greensill Capital, which provided supply chain finance to businesses, collapsed in March after its insurer, Tokio Marine Holdings Inc., refused to extend …

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