Financial Services and Markets Bill
The Financial Services and Markets Bill was introduced to Parliament on 20 July 2022
The Chancellor’s speech at the Financial and Professional Services Dinner at Mansion House on 19 July set out the importance of the financial services sector to the UK economy, and the central role of the Financial Services and Markets Bill in delivering the government’s vision for an open, green, and technologically advanced financial services sector that is globally competitive.
The Bill seizes the opportunities of EU Exit, tailoring financial services regulation to UK markets to bolster the competitiveness of the UK as a global financial centre and deliver better outcomes for consumers and businesses.
The Bill will:
- Implement the outcomes of the Future Regulatory Framework (FRF) Review
- Maintain the UK’s position as an open and global financial hub
- Harness the opportunities of innovative technologies in financial services
- Bolster the competitiveness of UK markets and promote the effective use of capital
- Support the levelling up agenda, promote financial inclusion and consumer protection
Documents related to the Financial Services and Markets Bill can be found on the Parliament website.