View more on these topics

May vows to fight on after cabinet departures

Prime minister Theresa May has promised to fight any attempt to remove her from office after two cabinet ministers quit in 24 hours.

Boris Johnson quit as foreign secretary yesterday and Brexit secretary David Davis left his post on Sunday evening.

Davis warned May’s proposal to keep Britain closely aligned to European Union rules was in danger of betraying the vote to leave.

In his resignation letter, Johnson says the possibility of a “more nimble and dynamic” Britain outside the EU is being undermined by “needless self-doubt”.

In her response to Johnson, May says she is a “little surprised” and regretful he stepped down after “productive discussions” at Chequers last Friday.

Jeremy Hunt, who was health secretary, has been appointed as foreign secretary. Hunt voted to remain in the EU in the Brexit referendum.

Matt Hancock, who has been the culture secretary since January, has stepped into Hunt’s former role.

The resignations of Johnson and Davis mark the first time since 1982 that two Cabinet ministers have stepped down within 24 hours outside of a reshuffle.

Dominic Raab, the former housing minister who campaigned to leave the EU, has become Brexit secretary.

The UK is set to leave the block in March 2019 and businesses have been pushing for clarity on future trade ties to reduce uncertainty as quickly as possible.

Yesterday BlackRock said it selected Paris over London as its new base for alternative investment services ahead of Brexit.

In recent months, Paris has stepped up efforts to woo financial firms away from London after the UK quits the EU.



New FCA chair: Brexit can herald ‘right-size’ regulation

New FCA chair Charles Randell has said that leave the EU will not lead to a bonfire of regulation, but could provide an opportunity for “right-sized” rules. Speaking to the Financial Times, Randell says because the role of the FCA should differ between parts of the market, Brexit should not set an overarching move to […]


Standard Life advice arm takes robo-advice plans to FCA trial

Standard Life’s advice arm 1825 has approached the FCA again to begin trialling a robo-advice proposition. In the wake of the Financial Advice Market Review in 2016, the FCA set up a dedicated advice unit to assist firms looking to use technology to bring automated advice services or discretionary investment models to market, potentially making […]

Rayner Spencer Mills: Why we rate the Artemis US Select Fund

Ken Rayner and Graham O¹Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio The Artemis US Select Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm