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UK government publishes Financial Services and Markets Bill

By 2022-07-22T12:04:00

Financial markets

The tabled bill represents ‘the beginning of the development of a new UK regulatory regime’, paves the way for Solvency II reform and furnishes the FCA with new regulatory powers

The government has this week (20 July 2022) published its long-awaited Financial Services and Markets Bill and introduced it to parliament, where it is currently undergoing second reading in the Commons.

The bill will allow government to repeal EU laws that govern UK financial services and markets – such as Solvency II requirements – with the aim of bolstering the competitiveness of the UK as a global financial centre.

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