Government announces wide-ranging Financial Services Bill
On 10 May 2022 the Government announced it will introduce a Financial Services and Markets Bill (FSMB) in the new Parliament. The Government also announced Economic Crime and Corporate Transparency and Brexit Freedoms Bills which will be of interest to the financial services industry.
The FSMB will enact the Government’s Future Regulatory Framework (FRF) reforms and planned amendments as a result of the Solvency II and Wholesale Markets reviews. It will also build on recent steps to protect consumers from harm by legislating to ensure access to cash and to protect consumers from authorised push payment fraud.
Download this At a glance for a detailed summary of the Financial Services Bill and its implications
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