New finance legislation aims to unlock investments

21 Jul 2022

The government has introduced legislation to Parliament, which it says will enhance the competitiveness of the UK financial services sector and unlock tens of billions of pounds of investment.

The Financial Services and Markets Bill repeals hundreds of pieces of EU retained law to deliver a comprehensive model of regulation for the UK.

The government says this will establish a 'coherent, agile and internationally respected approach to financial services regulation that works in the interests of British people and businesses'.

The Bill will implement the government's vision for the sector that is 'open, green, technologically advanced and globally competitive – while maintaining high levels of consumer protection'.

Commenting on the legislation, David Postings, Chief Executive of banking industry group UK Finance, said: 'A successful financial services sector is critical for achieving economic growth and benefits the whole country – it is one of our most important industries, delivering jobs, investment and growth across every region.

'To ensure the sector continues to be successful, alongside maintaining the pace of reform, there needs to be a keen focus on international competitiveness from the next government.'

icaew logo acca logo sage logo sageone logo bas xero

Home | Contact us | Accessibility | Disclaimer | Help | Site map | © 2022 Madisons. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Madisons is a trading name of Madison Business Services Limited Registered office: Bushbury House, 435 Wilmslow Road, Withington, Manchester, M20 4AF. Company Number: 03800186, VAT Registration Number: 741 1182 67 Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our Audit Registration can be viewed at www.auditregister.org.uk.
Telephone: 0161 434 3535 | Fax: 0161 445 0430 | Email: enquiries@madisons.co.uk.

Address
Madisons, Bushbury House, 435 Wilmslow Road, Withington, Manchester, Lancashire M20 4AF