Treasury Open To Regulating Areas Of Commercial Lending

Law360, London (May 27, 2021, 7:37 PM BST) -- Chancellor of the Exchequer Rishi Sunak told lawmakers Thursday that he is open to discussing increased oversight of commercial lending with the U.K.'s financial watchdog after the Greensill saga, marking a rethink that would tighten scrutiny over activities such as supply-chain financing.

He told the House of Commons Treasury Committee that HM Treasury is waiting to hear back from the Financial Conduct Authority on a review of the regulatory lessons from Greensill Capital's high-profile collapse before considering changes to business lending.

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

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