UK: Bank of England and Financial Services Bill - second reading

The Bank of England and Financial Services Bill received its second reading in the House of Lords earlier this week. Hansard, the record of debate, is available here. The Bill now proceeds to committee stage, the date for which has not yet been announced.

The Bill makes changes to the governance of the Bank of England, including the creation of a Prudential Regulation Committee, and also extends the reach of the Senior Managers Regime. Further information is available in the explanatory notes that have been published to accompany the Bill: see here or here (pdf). A copy of the Bill as introduced is available here or here (pdf). The progress of the Bill can be followed here.