In a speech delivered at Mansion House on 19 July 2022, the Chancellor of the Exchequer, The Rt Hon Nadhim Zahawi MP, sets out the government’s vision for the future of UK financial service and discusses proposals which aim to keep the UK “the most open, inclusive, welcoming, competitive, safe, and transparent place to do financial services business, in the world”. The government’s vision for a “more open, competitive, green, and technologically enabled” financial sector is being delivered in the form of the Financial Services and Markets Bill (Bill) which was introduced in Parliament today. Second reading of the Bill is expected to take place in the autumn, after Parliament returns from summer recess.
For an overview of some of the areas covered by the Bill, please read this blog post produced by our Financial Services Regulatory team.
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