UK Financial Services Bill 2022: A Cicero/amo overview

A new Financial Services Bill, set to be included in this year’s Queen’s Speech on 10th May, will be the most significant legislation in the area since the sector’s post-crisis financial reforms, with the financial regulators – the Bank of England, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) – all set to take on vast swaths of new policymaking powers.

Unlike the EU system that preceded it, we are currently destined for a regulatory process that leaves significant power in the hands of the regulators, with minimal oversight from a fleetingly interested Parliament.

Against this backdrop, the Cicero/amo team has produced an overview of what to expect from the Financial Services Bill and its impact on the sector.

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