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

20 September 2021

The Treasury Committee publishes the Government’s response to its report on the Future Regulatory Framework of Financial Services.

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

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