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Mick McAteer

@mickmcateer.bsky.social

106 followers 13 following 44 posts

Campaigns for: economic, social, and digital justice; and financial system that serves the environment, real economy, and households. Co-Director, Financial Inclusion Centre; Chair, Registry Trust; CCNI board; ex FSA/FCA board; FSUG Chair; Which?

Posts Replies Media

Mick McAteer @mickmcateer.bsky.social · 24/04/2026

UK government and regulators are basically trying to coerce our pension funds to invest in high risk, value extracting, poorly regulated private assets. This is unwise. www.linkedin.com/posts/mick-m...

#fca #financialregulation #investforthefuture | Mick McAteer

Invest for the Future/targeted support-what can possibly go wrong? Yesterday marked the launch of the finance industry's multi-£million Invest for the Future campaign to get more people investing. The...

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Mick McAteer @mickmcateer.bsky.social · 24/04/2026

City of London has launched multi-£mn campaign to get more people to invest. At the same time, FCA is weakening consumer protection. What can possibly go wrong? Ironic it launches just as Bank of England warns on markets being overpriced. www.linkedin.com/posts/mick-m...

#fca #financialregulation #investforthefuture | Mick McAteer

Invest for the Future/targeted support-what can possibly go wrong? Yesterday marked the launch of the finance industry's multi-£million Invest for the Future campaign to get more people investing. The...

Mick McAteer @mickmcateer.bsky.social · 30/03/2026

Self-induced fear of the bond markets My post on how: *Prime Minister should meet civil society heads, not just industry bosses *UK risks a grave error in its response to the current economic crisis due to this self-induced fear of the bond markets www.linkedin.com/posts/mick-m...

#energycrisis #economiccrisis | Mick McAteer

Response to the energy/economic crisis-self induced fear of the bond markets The Prime Minister held a high profile meeting with bosses from the finance, energy, and shipping sectors to discuss respon...

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Mick McAteer @mickmcateer.bsky.social · 18/02/2026

Another Financial Conduct Authority (FCA) climbdown. This time on motor finance misselling redress. www.linkedin.com/posts/mick-m...

Carmakers to win reprieve in £11bn UK motor finance redress scheme | Mick McAteer

An FCA climbdown-not another one! When Teresa May called a snap election in 2017, Brenda from Bristol became temporarily famous for exclaiming: 'You're joking. Not another one! Oh for God's sake'. Tha...

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Mick McAteer @mickmcateer.bsky.social · 14/02/2026

Bank shareholders and bosses are coining it in. Meanwhile, millions experience financial exclusion and discrimination. Time for a Fair Banking Act and Financial Inclusion and Regeneration Levy. www.linkedin.com/posts/mick-m...

Time for a Fair Banking Act, and Financial Inclusion and Regeneration Levy | Mick McAteer

Time for a Fair Banking Act and Financial Inclusion and Regeneration Levy 2025 was a very good year for the major UK banks and their shareholders. Profits saw significant rises[1] and, on top of the ...

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Mick McAteer @mickmcateer.bsky.social · 11/02/2026

The FCA and the defence sector The main UK financial regulator has made a remarkable decision to prioritise authorising investment funds that focus on investing in the defence industry. Has FCA Board thought this through? See my article www.linkedin.com/posts/mick-m...

#fca #deregulation #growth #competitiveness #greenwashing #impactwashing | Mick McAteer

The FCA, authorisations, and defence spending-has the politicisation of financial regulators gone beyond the acceptable boundary? This decision by Financial Conduct Authority to prioritise authorisin...

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Mick McAteer @mickmcateer.bsky.social · 06/02/2026

The UK National Wealth Fund (NWF). My take on whether the NWF is structured to act in the public interest or the interests of private finance, and is contributing to the financialisation of society. www.linkedin.com/posts/mick-m...

The National Wealth Fund – a genuine public interest institution or part of the growing financialisation of the economy and society? | Mick McAteer

National Wealth Fund-a true public interest institution or part of the growing financialisation of society? I found it interesting to read the NWF Five Year Strategic Plan https://lnkd.in/ek-ikfVu Ov...

Mick McAteer @mickmcateer.bsky.social · 15/01/2026

On @BBCr4today Lady Mayor of the City of London said the City paid for half NHS budget. Yet again claims like this unchallenged by the media. A very partial, limited, misleading way to evaluate the City. Ignores the huge costs. See this post @BBCBusiness www.linkedin.com/posts/mick-m...

Shedding light on finance and the financial regulators | Mick McAteer

How much value does 'The City' actually create? This morning I heard the Lady Mayor of the City of London say on The Today programme (item was at 6.15am if you're interested) that The City is the powe...

Mick McAteer @mickmcateer.bsky.social · 26/03/2025

So, we live in an economically uncertain world with millions financially vulnerable. The UK's already weak social security safety net condemns people to poverty and that is being further weakened? Go figure. The Spring Statement in brief: what you need to know - on.ft.com/3XZvs5i via @FT

Spring Statement 2025 in brief: what you need to know

A summary of the key policy announcements and official forecasts

Mick McAteer @mickmcateer.bsky.social · 10/03/2025

Genuine question. In what way is stablecoin an economically and socially useful innovation? How does this add any real value over and above existing payment mechanisms, especially when the additional risks are factored in? Banks and fintechs join ‘stablecoin gold rush’ - on.ft.com/3Dov8WN via @FT

Banks and fintechs join ‘stablecoin gold rush’

Bank of America and Stripe target market for payments in cryptocurrencies

Mick McAteer @mickmcateer.bsky.social · 08/03/2025

Finance is really emboldened by the aggressive deregulation agenda. Revolut and Visa file legal challenges against UK payments regulator - on.ft.com/41L3Z9D via @FT

Revolut and Visa file legal challenges against UK payments regulator

Fintech argues watchdog has overstepped its powers with proposed cap on international transaction fees

Mick McAteer @mickmcateer.bsky.social · 26/02/2025

There's a narrative developing that UK regulators regulate for risk, not growth, and are holding back 'buccaneering' risk capital. Actually, private finance lobbies want corporate welfare in the form of 'derisking' by the state. My take. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Blended finance and public/private partnerships: socialising the risk…

Regulating for risk, rather than growth-what's the reality? I keep reading private finance lobbyists and politicians claim UK regulators regulate for risk, not…

Mick McAteer @mickmcateer.bsky.social · 17/02/2025

Good to see Chair of Treasury Committee say this on City deregulation. When I gave evidence to the TSC, I said consumer groups were 'massively outgunned' by well resourced finance lobbies. Show me the evidence that City deregulation will help growth - on.ft.com/3EI32pF via @FT

Show me the evidence that City deregulation will help growth

There is a severe risk of ‘Treasury capture’ as consumers are outgunned in the battle for the ear of policymakers

Mick McAteer @mickmcateer.bsky.social · 17/02/2025

Good to see the FT wake up to the huge risk of regulatory arbitrage driving a race to the bottom on critical financial market safeguards. Trump’s reckless experiment with financial deregulation - on.ft.com/4b31geQ via @FT

Trump’s reckless experiment with financial deregulation

Mindless slashing of red tape poses a threat to market stability

Mick McAteer @mickmcateer.bsky.social · 16/02/2025

'It is estimated the digital universe doubles in size every two years, with 2.5 quintillion bytes of data created every day.' Fascinating and unsettling read. The human mind is in a recession - on.ft.com/41fQIpo via @FT

The human mind is in a recession

Technology strains our brain health, capacity and skills

Mick McAteer @mickmcateer.bsky.social · 05/02/2025

My article on how 'blended finance' models and public/private partnerships are about socialising the risk, privatising the rewards to the advantage of private finance. We will pay a huge price unless safeguards are put in place to prevent value extraction. www.linkedin.com/pulse/blende...

Blended finance and public/private partnerships: socialising the risk, privatising the rewards-lessons for the UK

This is a very interesting and pretty scathing article in the FT about the use of so called ‘blended’ finance models promoted by the development finance community. The future of international economic...

Mick McAteer @mickmcateer.bsky.social · 27/01/2025

I keep saying civil society needs to get its act together. Deregulation is being used as a national economic policy tool. Corporates will deploy regulatory arbitrage to play nation states and trading blocs off against each other. x.com/SaulStanifor...

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Mick McAteer @mickmcateer.bsky.social · 26/01/2025

Really hope this is being thought through properly. What happens if the pension surpluses disappear cos rates and bond yields fall? Which is presumably what the Government wants? Will employees get to share in the surpluses? www.reuters.com/world/uk/uk-...

UK to release pension surpluses to fuel growth push, Sky News reports

British finance minister Rachel Reeves will later this week announce plans to allow corporate pension scheme surpluses worth tens of billions of pounds to be released and reinvested, Sky News reported on Sunday.

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Mick McAteer @mickmcateer.bsky.social · 23/01/2025

How disappointing. www.theguardian.com/environment/...

theguardian.com

Labour MPs ordered to sink landmark climate and environment bill

Exclusive: Supporters of bill say Labour has already insisted on removal of clauses requiring UK to meet targets agreed at Cop and other summits

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Mick McAteer @mickmcateer.bsky.social · 20/01/2025

How is this a sensible idea? Rachel Reeves backs plans for looser limits on mortgage lending - on.ft.com/3PJaXp2 via @FT

Rachel Reeves backs plans for looser limits on mortgage lending

UK Chancellor favours proposals by the financial regulator for banks to take more risks to boost home ownership

Mick McAteer @mickmcateer.bsky.social · 20/01/2025

Financial innovation, eh? 'As returns went down, fees went up' 'Up to the year 2000, the hedge fund fee take had been running at around a third of overall gains, but since then it has increased to a half' Hedge fund managers pocket nearly half of investment gains as fees - on.ft.com/40Pt3w5 via @FT

Hedge fund managers pocket nearly half of investment gains as fees

Industry has taken $1.8tn in charges since the 1960s, according to LCH research

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Mick McAteer @mickmcateer.bsky.social · 17/01/2025

Financial Conduct Authority 'growth letter' to the Prime Minister. Looks like yet more financial deregulation on the way. The lessons of the past appear to have been forgotten. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: FCA letter on a new approach to ensure regulators and regulations support…

FCA 'growth' letter to the PM Looks like yet more financial deregulation is on the way. https://lnkd.in/eFBNggjA Why is the FCA removing the need for a…

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Mick McAteer @mickmcateer.bsky.social · 10/01/2025

New report from Financial Inclusion Centre 'Shedding light on finance and the financial regulators'. We cannot tell how well The City serves the real economy, environment, and consumers. Nor can we tell how well financial regulators are doing. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Shedding light on finance and the financial regulators

Shedding light on finance and the financial regulators Financial Inclusion Centre has published a new report today https://lnkd.in/eVnfeM8t We're basically…

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Mick McAteer @mickmcateer.bsky.social · 08/01/2025

Yet more financial deregulation on the way. Private finance lobbies are dictating financial policy and regulation. We're being played. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Bank of England to relax rules for banks and insurers

Yet more deregulation on the way- private finance lobbies are dictating financial policy. I had hoped that the BoE/ PRA was putting up some resistance to the…

Mick McAteer @mickmcateer.bsky.social · 30/12/2024

The financialisation of the core social infrastructure of the UK continues. And no doubt private finance will try to rebrand this as 'social impact', 'inclusive capitalism', 'productive finance', 'purpose based finance' etc. on.ft.com/3PenoJa via @FT

Private equity steps up bets on UK rental sector

Private capital and pension fund money flowing into single-family rental homes as demand soars

Mick McAteer @mickmcateer.bsky.social · 30/12/2024

'Bottom third of US consumers are tapped out,' 'Their savings rate right now is zero.' Will low savings/ financial resilience in UK lead to similar? Or has tougher FCA consumer credit regulation protected most financially vulnerable from the worst? on.ft.com/4gQcxRo via @FT

US credit card defaults jump to highest level since 2010

Consumers are ‘tapped out’ after years of high inflation and as pandemic-era savings have evaporated

Mick McAteer @mickmcateer.bsky.social · 28/12/2024

Not good. As I said at the recent Treasury Committee hearing the secondary growth and competitiveness objective is becoming a de facto primary objective for regulators. Looks like this is being confirmed. Expect finance lobbies to push for yet more deregulation. news.sky.com/story/starme...

Starmer throws down gauntlet to watchdogs with growth edict

The PM, chancellor and business secretary have written to watchdogs including Ofgem, the FCA and CMA to demand ideas for growth and investment amid sluggish economic growth, Sky News learns.

Mick McAteer @mickmcateer.bsky.social · 26/12/2024

It's remarkable that policymakers and regulators are making such a concerted effort to encourage pension funds and others to invest in alternative assets. A sector which is poorly regulated and governed, with questionnable performance. on.ft.com/41OTZgg via @FT

Private equity payouts fell 50% short in 2024

Value of investments cashed out lingers well below historic average for third consecutive year

Mick McAteer @mickmcateer.bsky.social · 21/12/2024

Regulators give in to big finance lobby yet again. This time EU finance regulator ESMA weakening rules on green finance. Whole ESG 'disclosure' regime is a mess, designed to suit finance' needs rather than expose the degree of climate harm financed by finance. on.ft.com/3BNwQ2X via @FT

EU rule change highlights difficulty of defining ‘green’

Regulator changes tack after pushback on fund naming rules

Mick McAteer @mickmcateer.bsky.social · 20/12/2024

Good article about a financial 'innovation' (not actually new BTW mostly rebranding and repackaging). Remember, 'risk' doesn't disappear. It gets relocated. And 'innovations' like this can create an illusion of better risk management in the broad system. on.ft.com/49PjGiv via @FT

Inside Wall Street’s booming $1tn ‘synthetic risk transfer’ phenomenon

The latest three-letter acronym to excite and alarm people

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Mick McAteer @mickmcateer.bsky.social · 18/12/2024

This is v interesting. But, 3 thoughts spring to mind. 1. As finance becomes even more complex and 'sophisticated' are they any better at their core function of allocating resources effectively? I don't think so. 1/ Liquidity risks in markets are not intractable - on.ft.com/4gJ9cnn via @FT

Liquidity risks in markets are not intractable

With today’s big data tools, conditions can be anticipated and actively managed

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Mick McAteer @mickmcateer.bsky.social · 14/12/2024

Very disappointing. Millions will face an impoverished retirement. Government could have reformed hugely costly pensions tax relief, used savings to boost pensions of low income households. As with long term care, UK very bad at long term thinking. on.ft.com/3OX8XZK via @FT

Rachel Reeves puts pensions review on hold to avoid extra burden on UK business

Some experts argue current savings rates will leave people without adequate retirement pots

Mick McAteer @mickmcateer.bsky.social · 05/12/2024

Financial Inclusion Centre submission to HM Treasury consultation on buy now, pay later products. This risky 'embedded finance' encourages overconsumption of credit. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Consultation responses

HM Treasury buy now, pay later (BNPL) consultation Financial Inclusion Centre has submitted a response to HMT's condoc on BNPL. We are very pleased to see…

Mick McAteer @mickmcateer.bsky.social · 30/11/2024

Interesting read in FT about Bank of England assessment of risks in the non-bank financial system. Risk hasn't gone away. It's been displaced to less well regulated/ governed/ transparent parts of the system. This needs close monitoring. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Bank of England warns of risks from non-banks in future markets crisis

Interesting read about risks in the non-bank financial system. 'Risk' hasn't gone away. It's been displaced to less well regulated/ governed/transparent parts…

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Mick McAteer @mickmcateer.bsky.social · 27/11/2024

Regulatory arbitrage here we come? www.reuters.com/world/uk/uk-... See my essay: Will we see a regulatory race to the bottom as a result of the new US administration? If so, how will UK and EU civil society respond? www.linkedin.com/pulse/we-see...

UK can diverge further from EU financial rules, says new Lord Mayor of London

Britain has room to ease more financial rules away from the EU to boost competitiveness, the new City of London chief told Reuters, saying the UK can appeal as an alternative to the United States under Donald Trump.

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Mick McAteer @mickmcateer.bsky.social · 25/11/2024

A very good read on the risks of weakening financial regulation and pursuing 'growth and competitiveness' in financial services. We've been here before. Fix UK financial services culture before softening regulation - on.ft.com/3OrdR0Q via @FT

Fix UK financial services culture before softening regulation

Car loan commission ruling suggests the industry has not learnt from its mistakes

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Mick McAteer @mickmcateer.bsky.social · 22/11/2024

Very important new analysis of the debt burden experienced by low income UK households concealed by the headline aggregate data. bit.ly/3B10scM

How severe is the consumer credit debt burden?

The stock of outstanding consumer credit is at an all-time high. But relative to gross household incomes the ratio is falling. In this blog we take a deep dive into the data, highlighting why aggregat...

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Mick McAteer @mickmcateer.bsky.social · 19/11/2024

My essay on the risk of regulatory arbitrage as a result of the incoming US administration, two competing visions for the City of London, and how UK and EU civil society should respond. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Will we see a regulatory race to the bottom as a result of the new US…

Two competing visions for the City of London and the risk of regulatory arbitrage My brief article: linking the risk of regulatory arbitrage in finance/ tech…

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Mick McAteer @mickmcateer.bsky.social · 16/11/2024

Chancellor's Remit Letter to Financial Conduct Authority. Great to see a financial inclusion 'have regard' given to FCA. But, campaigners must be careful. Finance lobbies claim regulation causes exclusion. This have regard could be a Trojan Horse for deregulation. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: #financialregulation #financialinclusion

FCA Remit Letter/ financial inclusion 'have regard' Great to see that a 'have regard' to financial inclusion has been included in the Chancellor's Remit Letter…

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Mick McAteer @mickmcateer.bsky.social · 15/11/2024

UK Government confirms regulation of ESG ratings providers. Good. But the new regime is unlikely to hold finance to account for continuing to finance at scale climate harm. On the 'S' part of ESG, standards are so low it won't prevent 'impact washing'. See: www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: Future regulatory regime for Environmental, Social, and Governance (ESG)…

ESG Ratings Providers Government response to ESG ratings providers condoc published. Only a handful of responses from civil society. Here is FIC's:…

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Mick McAteer @mickmcateer.bsky.social · 15/11/2024

My take on the Mansion House speech. There are many happy finance sector lobbies this morning. And why wouldn't they be? Things are very much going their way. www.linkedin.com/posts/mick-m...

Mick McAteer on LinkedIn: #financialregulation #impactwashing #newpfi #mansionhouse

Mansion House speech There's a lot of happy finance lobbyists on LinkedIn this morning. And why wouldn't they be? Things are very much going their way. A…

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Mick McAteer @mickmcateer.bsky.social · 14/11/2024

Tonight's Mansion House speech. Reforms to UK local government pension schemes. Governance will be critical. Also, potential reversal in hard won consumer protection gains on the cards? Regulatory independence further compromised? V risky given new US administration threatens regulatory arbitrage.

Reposted by Mick McAteer

Carbon Brief @carbonbrief.org · 14/11/2024

Rich countries met $100bn climate-finance goal by ‘relabelling existing aid’ | @joshgabbatiss.bsky.social #CBarchive Read here ➡️ buff.ly/3YK6Rkt

Bilateral development aid spending by developed countries, with specific issues indicated in shades of blue and everything else in red. This chart is based on CGD figures, meaning the bilateral public climate finance targets do not align precisely with the official OECD figures. Source: CGD. Chart: Carbon Brief.