UK Chancellor of the Exchequer Rachel Reeves is seeking to reform consumer redress in the financial services sector, according to the Financial Times. The proposed reforms aim to address issues within the sector and enhance consumer protection. In a recent address at Mansion House, Reeves emphasized the importance of protecting the UK's financial sector amidst ongoing geopolitical uncertainties and structural challenges, including those stemming from Brexit. She also mentioned efforts to promote growth and woo the City. Bank of England Governor Andrew Bailey has warned against raising tariffs in response to potential US-led protectionism and stressed the need to maintain open trade with the EU. Bailey also highlighted the impact of Brexit on the UK's trading relationships and the necessity of rebuilding relations with the EU.