Summary of the Financial Services and Markets Bill 2022 and the Chancellor’s Mansion House speech
This is a summary of the recently published Financial Services and Markets Bill (FSMB) and the Chancellor’s 19 July Mansion House speech – which primarily focused on the Bill – highlighting content that is key to our agenda.
In his Mansion House speech, the Chancellor announced the introduction of the Bill, which will be central to the government’s delivery of its vision for the future of financial services. It is the result of several consultations over a lengthy period which aim to reshape the legislative and regulatory regime for the UK. The objectives of the Bill are to enhance the competitiveness of UK financial services, unlock growth and investment across the UK, and ensure the sector continues to deliver in the interests of British people and businesses.