Financial Services Bill

Page 3, line 36, at end insert “, and of the Bank to the FCA’s integrity objectives, including but not limited to, subsection (2)(f) of section 1D and section 1DA of FSMA 2000 as inserted by section 5 of the Financial Services Act 2012.”

Page 17, line 5, at end insert—

“( ) the way in which a financial product or opportunity is drawn to the attention of or otherwise made available to members of the public;

( ) the ways in which the provider of a financial product or service derives revenue therefrom, and the way that this is disclosed to the purchaser;”

Page 17, line 18, at end insert—

“(f) the procedures for establishing benchmark market prices being in the best interests of society as a whole.

1DA Integrity objective: public inquiry

Within 28 days of this section coming into force the Treasury shall commission a public inquiry under the Inquiries Act 2005 provisions into the culture, governance and professional integrity of the banking and financial services industry.”

Page 17, line 34, after “market” insert—

“( ) the role of regulation in enabling innovative business models to compete with established businesses,

( ) the role of regulation in enabling other government departments to extend the considerations and facilities to innovative businesses that they extend to established businesses,”