Britain’s Sunak Accepts Call for Financial Reforms After Greensill Collapse

Britain's Chancellor of the Exchequer Rishi Sunak at Downing Street in London, England on Sept. 24, 2020. John Sibley/Reuters

British finance minister Rishi Sunak has ordered two immediate reviews of the country’s financial regulation related to the collapse of supply chain finance firm Greensill Capital.

In a letter to a parliamentary committee that issued a report in July related to Greensill’s collapse, released on Friday by the same committee, Sunak said he had accepted its call for reform of the mechanism used by Greensill, known as the “appointed representatives regime.”