Friday, 8 June 2012

UK: Financial Services Bill - second reading in the House of Lords next Monday and Treasury Committee concerns

The Financial Services Bill 2012 will receive its second reading in the House of Lords next Monday and this will provide the first opportunity for members of the Lords to debate the main principles and purpose of the Bill. A list of speakers has been published here. A copy of the Bill, as introduced at first reading in the Lords, is available here (html) and here (pdf). Explanatory notes are available here (html) and here (pdf).

The House of Commons Treasury Select Committee remains concerned with aspects of the Bill and has published a report setting out its concerns and suggested remedies: see here (html) and here (pdf). Amongst other things, the Committee is concerned with the proposed governance arrangements for the Bank of England and the strategic objective being given to the new Financial Conduct Authority.

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