Mick McAteer
@mickmcateer.bsky.social
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?
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
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
on.ft.com
March 26, 2025 at 1:58 PM
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
The Spring Statement in brief: what you need to know - on.ft.com/3XZvs5i via @FT
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
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
on.ft.com
March 10, 2025 at 11:23 PM
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
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
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 - 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
on.ft.com
March 8, 2025 at 12:42 PM
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 - on.ft.com/41L3Z9D via @FT
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...
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…
www.linkedin.com
February 26, 2025 at 1:48 PM
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...
Actually, private finance lobbies want corporate welfare in the form of 'derisking' by the state. My take.
www.linkedin.com/posts/mick-m...
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
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
on.ft.com
February 17, 2025 at 6:15 PM
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
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
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 - on.ft.com/4b31geQ via @FT
Trump’s reckless experiment with financial deregulation
Mindless slashing of red tape poses a threat to market stability
on.ft.com
February 17, 2025 at 6:04 PM
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 - on.ft.com/4b31geQ via @FT
'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
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
on.ft.com
February 16, 2025 at 2:11 PM
'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
Fascinating and unsettling read.
The human mind is in a recession - on.ft.com/41fQIpo via @FT
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...
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...
www.linkedin.com
February 5, 2025 at 8:44 PM
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...
We will pay a huge price unless safeguards are put in place to prevent value extraction.
www.linkedin.com/pulse/blende...
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...
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...
x.com
x.com
January 27, 2025 at 8:54 AM
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...
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...
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-...
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.
www.reuters.com
January 26, 2025 at 9:25 PM
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-...
Will employees get to share in the surpluses?
www.reuters.com/world/uk/uk-...
How disappointing.
www.theguardian.com/environment/...
www.theguardian.com/environment/...
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
www.theguardian.com
January 23, 2025 at 10:13 PM
How disappointing.
www.theguardian.com/environment/...
www.theguardian.com/environment/...
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 - 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
on.ft.com
January 20, 2025 at 8:13 PM
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 - on.ft.com/3PJaXp2 via @FT
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
'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
on.ft.com
January 20, 2025 at 8:46 AM
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
'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
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...
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…
www.linkedin.com
January 17, 2025 at 1:07 PM
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...
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...
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...
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…
www.linkedin.com
January 10, 2025 at 1:08 PM
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...
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...
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...
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…
www.linkedin.com
January 8, 2025 at 11:39 PM
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...
We're being played.
www.linkedin.com/posts/mick-m...
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
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
on.ft.com
December 30, 2024 at 5:13 PM
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
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
'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
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
on.ft.com
December 30, 2024 at 5:04 PM
'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
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
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...
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.
news.sky.com
December 28, 2024 at 2:34 PM
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...
news.sky.com/story/starme...
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
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
on.ft.com
December 26, 2024 at 3:54 PM
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
on.ft.com/41OTZgg via @FT
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
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
on.ft.com
December 21, 2024 at 1:59 PM
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
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
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
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
on.ft.com
December 20, 2024 at 8:58 AM
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
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
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
on.ft.com
December 18, 2024 at 6:23 PM
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
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
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
on.ft.com
December 14, 2024 at 2:12 PM
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
As with long term care, UK very bad at long term thinking.
on.ft.com/3OX8XZK via @FT
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...
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…
www.linkedin.com
December 5, 2024 at 1:06 PM
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...
This risky 'embedded finance' encourages overconsumption of credit.
www.linkedin.com/posts/mick-m...