The Tory leader will call for the Financial Service Ombudsman to be replaced in a speech on Thursday.

Kemi Badenoch will argue that the City has not been championed by governments and that there was a "risk averse" culture in the UK.

The Tory leader will call for the Financial Service Ombudsman to be replaced in a speech on Thursday.

The Tory leader will warn that red tape and excessive regulation on banks have killed growth, jobs and pensions income in a major speech.

Kemi Badenoch will step up her efforts to woo the City as she pledges to wield the axe on post-financial crisis banking regulation.

The reforms Kemi Badenoch announces today will see the end of ringfencing and the end of an unfair international disadvantage imposed through capital requirements set by…