Rachel Reeves will not be investigated over pre-budget briefing, FCA says

Regulator leaves door open for follow-up as it rejects calls for formal inquiry into claims against Treasury officialsTreasury launches inquiry into budget leaks with Reeves’s supportBusiness live – latest updatesThe UK’s financial regulator has decided not to immediately investigate Rachel Reeves and the Treasury over pre-budget briefings but left the door open for further examination of what the Conservatives claimed amounted to market manipulation.In a letter addressed to the chair of the Treasury committee, Meg Hillier, the the chief executive of the Financial Conduct Authority (FCA) said the regulator had turned down requests by politicians including the shadow chancellor, Mel Stride, to open an inquiry into briefings made before last week’s announcement by the chancellor. Continue reading…