Treasury Committee publishes response to Future Regulatory Framework of Financial Services report

• Read the Response
• Committee Report: Future Regulatory Framework of Financial Services Report

The report included the following recommendations:

• EU financial services rules that were on-shored during the process of leaving the EU should be moved into the regulators' rule books.
• Regulators should not be required to share proposals with HMT before public consultation
• While there may be a role for the Government to use ‘activity based’ principles to instruct regulators’ approach to specific business sectors, the Government should be sparing in this respect
• The Committee does not see a clear need for the creation of a new committee or independent body to scrutinise financial regulations

Further information

• Inquiry: Future of financial services
• Treasury Committee

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